Euro Goes Up as GDP Surpasses Forecasts in US

The euro rose against its major rivals today as the U.S. GDP report indicated that the participants in the market dug themselves too deep into the pessimism of the risk-aversion and that this is a good idea to buy currency with their medium-term bottoms.

The euro was better than the British pound and Japanese yen in the Forex market trading day before the GDP release, but added the U.S. dollar to its intraday trophy room to the 2nd quarter of the second estimate was in the United States . The gross domestic product gain 1.6 percent, according to the latest report, which, despite being below the previous forecast level was better than expected sales.

Although the increase in euro / dollar remains minimal, while the volatility level is high because of the closeness news, the analysts suggest that this report will be a medium-term effect on how the euro traded. It may even help the investors' vision to move from "fear" to "greed", increasing the attractiveness of all risk-related assets (and the currency, of course).

Euro / dollar is now trading near 1.2720 from 12:55 GMT after closing at 1.2716 yesterday. EUR / JPY rose from 107.40 to 108.05, while the GDP / JPY up 131.10 to 131.56.

Japanese Yen Gives Up Some Positions

The Japanese yen has a few of his newly won position against other major currencies as investors have committed to keep the monetary intervention in Japan.


Currency intervention looking at a beautiful reasons for the Forex traders their long-term profitability of the fixed short USD / JPY, EUR / JPY positions. For scalpers, it's also a good opportunity to benefit from the short-term speculative movements. The yen for the third day against the British pound today.


USD / JPY increased from 84.46 to 84.65 as of 10:48 GMT today. EUR / JPY rose from 107.40 to 107.69, while GBP / JPY up 131.10 to 131.31.

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