FX Week 24 November 2013

Divergent USD trends


Major currency pairs are taking their lead from central banks, with the USD gaining at the expense of the JPY as Fed ‘tapering’ appears to be drawing nearer, while declines in EUR/USD are being delayed by uncertainty about the future policy direction of the ECB. The coming week will be partly truncated by US Thanksgiving holidays on Thursday, but important data also looms in the Eurozone where November CPI data is released.

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