FX Update: May 28, 2013

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May 28, 2013

GBP/USD EUR/USD USD/CHF USD/JPY AUD/USD USD/CAD
Resistance (High) 1.5136 1.2951 0.9766 102.51 0.9697 1.0398
Support (Low) 1.5032 1.2851 0.9620 100.91 0.9595 1.0323
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Dollar Gains as Economic Data Bolster Bets Fed Will Taper Buying

May 28, 2013 (Bloomberg) -- The dollar strengthened versus the euro and the yen as reports showed U.S. consumer confidence reached the highest level since 2008 and home values climbed, bolstering bets the Federal Reserve will slow its bond buying.

Japan's currency slid against most of its 16 major peers after an adviser to Japanese Prime Minister Shinzo Abe said the nation's central bank can add to its unprecedented stimulus if necessary to support economic revival. South Africa's rand tumbled to a four-year low after data showed the economy slowed more than analysts estimated in the first quarter.

"At a time when the rest of the world's economies are on shaky ground, U.S. economic data continues to surprise to the upside, making the dollar extremely attractive to ...keep reading.

 

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