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Fx Currencies Exchange News Roundup

In Fx Currencies Exchange news for this week, the oversold dollar briefly encountered high volatility twice on Wednesday: once after the Fed made the universally expected 25-basis point hike to 5 percent, and then when in a perfect diplomatic maneuver, the Treasury declined to call China a manipulator of its currency, but expressed unhappiness among fx currencies exchange markets that the country made too little progress in making its exchange rate more flexible.

In other Fx Currencies Exchange news, the dollar/yen relationship fell sharply on Wednesday ? the fourth straight decline ? to reach a new low for the downtrend. After a recovery, the selling pressure should resume. Initial resistance was pegged at 111.60 from a 50-point pivot, which targets 112.10 and 111.10. Strong resistance follows at 112.90 from a 50-point pivot, which targets 113.40 and 112.40.

Finally in Fx Currencies Exchange news, the euro/dollar rallied to a new high for its uptrend. The short-term screams for a pull back, but the long-term outlook remains bullish. Initial support in the Fx Currencies Exchange market was seen at 1.2705. A break below 1.2650 would have signaled a slide to 1.2590. Only a break below this level means that a significant peak is in place and then a further decline to 1.2500 would be seen. Immediate resistance in the fx currencies exchange market for this is now at 1.2785.