ForexLive Americas wrap March 22, 2013: Cyprus nears solution

Author: Adam Button | Category: News

Author: Adam Button

Forex trading headlines from Friday’s New York session:

The euro jumped on a Reuters report saying a solution on Cyprus could be possible within hours. That pushed EUR/USD through 1.3000 from 1.2960 at the start of US trading. Details have been scant but a deal appears to be coming together. EUR/USD has spent most of the US afternoon around 1.2985.

If not for the news trickling out of Cyprus it would have been an extremely quiet Friday. The one exception was the ratings warning on the UK from Fitch. That sent cable down a half cent to 1.5190 but it slowly retraced all the losses in a positive sign for GBP.