Market Review 28.12.12

Source: ForexYard


The US dollar shot up to a fresh two-year high against the yen during overnight trading, as speculations that the Bank of Japan will initiate aggressive monetary easing policies in the near future weighed down on the Japanese currency.

The euro saw slight upward movement against the dollar during the Asian session as investor hopes that US lawmakers can reach a budget deal before the end of the year boosted riskier assets. All eyes will be on a meeting between President Obama and Congressional leaders today to see if any progress in negotiations has been made.

Main News for Today

US Pending Home Sales-15:00 GMT
• Analysts are forecasting the home sales figure to come in substantially lower than last month’s
• Worse than expected data today could weigh down on the dollar during afternoon trading

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