Daily Forex News

The Canadian dollar edged higher against other major currencies during early deals on Monday as the crude oil prices rose above $48 a barrel today.

Monday in Asia, the European currency jumped to its highest level in almost 8-weeks against the US dollar. The euro also advanced against the franc, but it eased from a 17-day high against the yen. Meanwhile, the euro showed choppy trading against the British pound.

The US dollar rebound finally came last week i.e. the USD dropped after having appreciated very strongly since mid July. Significantly the EUR/USD gained 5.1%, breaking above the range of the previous six weeks. The momentum was not enough for the NZD/USD to emerge from its recent range but such a break is likely.
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