Forex and Gold Daily Report 28 January 2013

The euro rallied against the dollar and the yen on Friday boosted by hopes that the worst of the crisis in the euro zone has passed, while the yen fell further against the euro and the dollar after Japanese government officials said the currency still had room to weaken.

Gold futures ended Friday’s session at the lowest level in two weeks, as the precious metal’s safe-haven appeal waned amid easing concerns over the global economic outlook. Gold futures came under further pressure as a bout of technical selling continued for a second day after prices failed to break above a key resistance level.

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