Forex

The growing concerns of possible distribution of debt crisis in Europe were supportive for US dollar.

By Forex-Metal

Asian and European trading sessions:

Due to growing concerns of possible distribution of debt crisis in Europe, the euro fell against the dollar as well as against the others major currencies. Market participants still fear that the current crisis will cause a slowdown in the economy of the region. The EUR / USD pair decreased below $ 1.2700 and recorded its low of $1.2682 at the end of European trading session.

US Dollar: Growth of the U.S. dollar was limited amid of tomorrow's publication of data on inflation in China. The expected decrease of inflation in China might force central banks of Asian countries to stimulate growth of China, the second largest economy in the World.

British Pound: At the European trading session the British currency steeply dropped against all its major competitors excluding the Euro. The GBP / USD pair fell below $ 1.5400 and recorded its lowest session level at the $1.5367 area.

Japanese Yen: The USD / JPY pair showed positive dynamics hitting a level of Y77.00 during the European trading session.

American trading session:

US Dollar: The fact of investing in safe assets when it comes to uncertainty in situation in economy was also proved today. The U.S. currency rose against most major currencies as investors invested in U.S. government bonds as well as in US dollar.

Euro: The rumors and speculations that the credit rating agencies may downgrade the credit rating of France amid the deterioration of the debt crisis in Europe pressured the Euro currency at the American trading session.

British Pound: The pound continued its downtrend falling to $1.5319 level against the US dollar.

Oil: Due to increased demand for relatively safe assets, the February futures price of U.S. light crude oil WTI declined to $ 100.81 per barrel, setting the session low at $ 100.54 per barrel.

Gold: On Tuesday, gold tried to overcome $ 1644 per troy ounce level, the level of its 200- day moving average Finally, it set the $1.642.19 value by the end of the day.