Asian Session - Autralian Central Bank cuts it’s interest rate for first time in 7 years as Japan looks for a new Prime Minister

G10 Advancers and Decliners vs USD

JPY
0.14

CHF
0.02

EUR
-0.13

GBP
-0.51

The USD traded higher during late US session as Hurricane Gustav was downgraded to a tropical storm after going from a category 3 hurricane to a 2. Dollar continued it’s recent strength on the back of commodities as Crude declined to $111.15. Gold declined sharply on the first day of the month from recent highs of $835 to $817, which then extended into early Asian trading, falling near $804…

Original post by Philippe Meyer

This entry was posted on Tuesday, September 2nd, 2008 at 3:46 am and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.