EUR/USD
The shared European currency declined versus the dollar after a policy maker said the European Central Bank is technically prepared to make its deposit rate negative., The ECB president said at this month’s decision that unemployment currently “looks like it is stabilizing” though “stabilizing at the top.” He reiterated on Nov. 21 in a speech surveying euro-area monetary and political efforts to foster growth that “for the sake of those who remain unemployed, we have to persevere.” Inflation stayed close to the lowest level in almost four years in November with a reading of 0.8 percent, the euro fell 0.4 percent against the dollar to 1.3500.
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GBP/USD
The pound weakened from a one-month high against the dollar as an industry report showed U.K. mortgage approvals unexpectedly declined in October. Sterling slid by the most in two weeks versus the greenback on speculation gross domestic product data will fail to exceed analyst forecasts. Former Bank of England policy maker Adam Posen said a house-price bubble may provoke a crisis in the pound. U.K. government bonds advanced. The pound fell 0.5 percent to $1.6143.
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USD/JPY
The yen slid to the weakest level in almost six months versus the dollar as demand for the safety of the currency waned after an accord was struck to set limits on Iran’s nuclear program. The Bank of Japan said in April it wanted to achieve 2 percent inflation in about two years. Governor Haruhiko Kuroda said today the bank’s target could be hit sometime late in the fiscal year through 2014 or early in the 2015 period. The yen fell 0.4 percent to 101.71 per dollar.
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USD/CAD
The Canadian Dollar dropped to its lowest level in four months as the price of oil, Canada’s biggest export, fell after Iran and world powers reached an interim deal to set limits on its nuclear program. The currency fell against the majority of its most-traded peers in the wake of the sixth-month agreement, which offers Iran about $7 billion in relief from sanctions in exchange for curbs on its nuclear program, while leaving in place banking and financial measures that have hampered its crude exports. Canadian dollar fell 0.4 percent to 1.0540 per U.S. dollar.
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