FX Update: April 16, 2013

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April 16, 2013 GBP/USD EUR/USD EUR/JPY USD/JPY AUD/USD USD/CAD
Resistance (High) 1.5381 1.3203 129.06 98.17 1.0399 1.0260
Support (Low) 1.5270 1.3026 124.94 95.77 1.0290 1.0203
Forex News

Canada Dollar Gains After Largest Drop Since 2011 as Gold Rises

April 16, 2013 (Bloomberg) --  The Canadian dollar rose against its U.S. counterpart after yesterday's largest drop in more than a year as gold pared losses following a 14 percent two-day plunge that damped demand for commodity-linked currencies.

The loonie, as the currency is nicknamed, fell versus its commodity peers, the Australian and New Zealand dollars, as gold for immediate delivery gained 2.6 percent. Slower-than-forecast economic data in Canada, China and in the U.S., the nation's largest trading partner, is projected to lead the Bank of Canada to revise down growth forecasts as it leaves its 1 percent interest rate in place at its policy  ...keep reading.

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