Market news
20.07.2011, 08:19

Asian sesion: The euro kept a gain

The dollar maintained a two-day gain against the Swiss franc after President Barack Obama endorsed deficit-cutting measures as a step toward raising the debt ceiling and avoiding default.
Obama called the revival of the so-called Gang of Six proposal “good news.” 
The Australian dollar held onto yesterday’s advance before a report forecast to show sales of existing U.S. homes rebounded, supporting demand for higher- yielding assets. 
The euro kept a gain against the yen as European leaders prepare for a summit tomorrow on how to contain the region’s debt crisis. 

EUR/USD: the pair  shown low in  $1.4130  area then  restored. 
GBP/USD: the pair   decreased in $1.6100  area. 
USD/JPY: the pair  decreased in  Y79.00 area. 

The UK dominates early data Wednesday, with releases at 0830GMT including lending data, but more importantly the minutes of the latest Bank of England MPC meeting. The BOE's release of Trends in Lending at the same time may cast light on whether presently very tight credit conditions for SMEs and mortgage borrowers are easing. Expect the latter to show a continuing flat trend in mortgage approvals and mortgage lending.

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