We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

Free Trading Guides
of clients are net long.
of clients are net short.
Long Short

Note: Low and High figures are for the trading day.

Data provided by
Oil - US Crude
More View more

DailyFX PLUS Content Now Available Freely to all DailyFX Users

Real Time News
  • Commodities Update: As of 18:00, these are your best and worst performers based on the London trading schedule: Silver: 0.42% Gold: 0.41% Oil - US Crude: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#commodities https://t.co/qdRVEtYobI
  • I am genuinely curious how Saudi Arabia got production back up so quickly. Makes it seem like they had massive spare capacity that was idled or they just ran a big garden hose around the portion of the plants that was destroyed...
  • US and Chinese 'deputies' are due to restart negotiations today. Meanwhile, the cumulative pain of tariffs continues to show through. FedEx earnings are an example. Here is $FDX overlaid with the Yuan-Dollar exchange rate (green) https://t.co/WZtuuUkhE7
  • IG Client Sentiment Update: Our data shows the vast majority of traders in Ripple are long at 97.67%, while traders in France 40 are at opposite extremes with 85.67%. See the summary chart below and full details and charts on DailyFX: https://www.dailyfx.com/sentiment https://t.co/T417OE2Mmy
  • $NZDUSD: A close below the low end of the zone could send NZD/USD towards 0.6136. Get your #technicalanalysis from @malkudsi here: https://t.co/i2YMDFJkRp https://t.co/TuvWNJZtgg
  • Indices Update: As of 18:00, these are your best and worst performers based on the London trading schedule: US 500: 0.22% Wall Street: 0.13% Germany 30: -0.04% France 40: -0.07% View the performance of all markets via https://www.dailyfx.com/forex-rates#indices https://t.co/aDo9IwMads
  • Re-upping this. https://t.co/SUv8Lzbhxu
  • $USDCAD: The broader focus remains on a break of the 1.3155- 1.3355 zone for guidance on our near-term directional bias. Get your technical analysis from @MBForex here: https://t.co/q1UJdW49AW https://t.co/OR0Gl1YPIn
  • Precious Metals Update: #Gold 1,499.19 (+0.35%), #Aluminum 1,785.50 (-0.36%), and #Copper 5,814.00 (-0.12%). [delayed]
  • RT @BobOnMarkets: In other words, juts like back before forward guidance led markets to price out risk premiums and over-inflate asset pric…
British Pound Continues to Outperform, Japanese Yen Loses Ground

British Pound Continues to Outperform, Japanese Yen Loses Ground

2009-10-21 14:58:00
David Song, Currency Strategist


The British pound surged higher following the Bank of England Minutes to remain the best performing currency against the greenback, and the currency may continue to retrace the sell-off from the previous month as policy makers hold an improved outlook for the economy. The GBP/USD has rally 230+pips on the day and has moved nearly 160% of its daily ATR, and the lack of momentum to break above 1.6650 may lead the pair to fall back below 1.6600 as it remains overbought. Nevertheless, as the pound-dollar remains support by the 100-Day SMA (1.6354), we may see the pair continue to rally over the remainder of the week as economists forecast 3Q GDP to expand 0.2% from the three-months through June, and may work its way towards 1.6700 to test the September high for near-term resistance.



The USD/JPY advanced for the second day and the Japanese yen is the worst performing currency against the greenback next to the Canadian dollar, and the exchange rate may continue to push higher over the week following the rebound in market sentiment. However, as the dollar-yen fails to push above the previous week’s high (91.33), we may see the pair continue to hold a narrow range over the week as it search for a top, and the lack of momentum to mark higher highs could lead the USD/JPY to pare the advance from earlier this month. Nevertheless, as the Bank of Japan maintains a cautious outlook for the domestic economy and expects the region to face headwinds going into the following year, growth concerns may stoke increased speculation for a currency intervention as global trade conditions remain weak.


provides forex news and technical analysis on the trends that influence the global currency markets.


News & Analysis at your fingertips.