The U.S. dollar hit a seven month high against the yen on Tuesday and remained steady against the euro, amid guarded hopes that euro zone finance ministers would agree to release Greece’s next tranche of bailout funds.
While, Gold futures traded down during U.S. afternoon hours Tuesday, after official data indicated the number of housing starts in the U.S. increased to the highest level since July 2008 in October.
- The Australian dollar inched lower against the U.S. dollar on Tuesday, as investor sentiment was dented after ratings agency Moody’s downgraded France by one notch.
- The euro was almost unchanged against the U.S. dollar on Tuesday, as meeting of euro zone finance ministers to discuss a delayed bailout payment for Greece got underway.
- The pound was little changed against the U.S. dollar on Tuesday, as investors awaited the outcome of talks in Brussels on a delayed bailout payment for Greece.
- The U.S. dollar remained steady close to a seven-month high against the yen on Tuesday, after the Bank of Japan made no change to monetary policy this month, as expectations for further easing next month remained intact.
- Gold futures edged modestly lower during U.S. trading hours on Tuesday, after official data showed the number of housing starts in the U.S. rose to the highest level since July 2008 in October.
To download complete report; CLICK: Forex and Gold Daily Report 21 November 2012