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31 Mar 2015
Forex Top Movers: US dollar on the offensive; Yen advances
FXStreet (Tokyo) - The six top movers to the upside in the currency market are now US dollar crosses as the USD is trading on the offensive as the month, and the quarter, is coming to an end. USD also advances against Euro and Pound, but it's down versus the Japanese Yen.
As I reported yesterday, Forex.com's analyst Matt Weller was commenting on rebalancing stuff. Weller said that "US markets lagged their European counterparts, meaning that global portfolio managers will have to sell European investments and buy US assets to rebalance back to their target allocations." Weller firmed that "this means that we could see some demand for the US dollar ahead of the European close tomorrow."
And he nailed it!
Upside and downside top movers:
Top gainers are USD/RUB, +1.16% to 58.19; USD/NOK, +1.11% to 8.0985; and USD/CZK, +0.94% to 25.60. To the downside, laggards are USD/BRL, -1.03% to 3.1911; EUR/JPY, -0.99% to 128.78; and EUR/USD, -0.91% to 1.0735.
Forex Majors:
Beside the mentioned EUR/USD, which is -0.91% at 1.0735, the GBP/USD is trading rangebound while declining 0.08% at 1.4790; the USD/JPY is performing a turnaround Tuesday as the pair peaking at 120.35 before retracing below 120.00, now at 119.95, -0.09%.
As I reported yesterday, Forex.com's analyst Matt Weller was commenting on rebalancing stuff. Weller said that "US markets lagged their European counterparts, meaning that global portfolio managers will have to sell European investments and buy US assets to rebalance back to their target allocations." Weller firmed that "this means that we could see some demand for the US dollar ahead of the European close tomorrow."
And he nailed it!
Upside and downside top movers:
Top gainers are USD/RUB, +1.16% to 58.19; USD/NOK, +1.11% to 8.0985; and USD/CZK, +0.94% to 25.60. To the downside, laggards are USD/BRL, -1.03% to 3.1911; EUR/JPY, -0.99% to 128.78; and EUR/USD, -0.91% to 1.0735.
Forex Majors:
Beside the mentioned EUR/USD, which is -0.91% at 1.0735, the GBP/USD is trading rangebound while declining 0.08% at 1.4790; the USD/JPY is performing a turnaround Tuesday as the pair peaking at 120.35 before retracing below 120.00, now at 119.95, -0.09%.