FX Update: May 29, 2013

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May 29, 2013 GBP/USD EUR/USD EUR/JPY USD/JPY AUD/USD USD/CAD
Resistance (High) 1.5147 1.2979 131.72 102.54 0.9672 1.0421
Support (Low) 1.5007 1.2836 130.37 100.70 0.9527 1.0349
Forex News

Yen Rallies as BOJ Chief Says Stability Important; Krona Climbs

May 29, 2013 (Bloomberg) -- The yen strengthened against the dollar and the euro after Bank of Japan Governor Haruhiko Kuroda said a stable financial system is important as the central bank adds unprecedented stimulus to the economy.

Japan's currency climbed against most of its major peers as the nation's Topix index of stocks rose for a second day and benchmark 10-year bond yields climbed. Sweden's krona advanced after the nation's economy expanded more than forecast. Australia's dollar touched the weakest versus its U.S. counterpart since October 2011 after the International Monetary Fund cut its growth forecast for China.

"The BOJ fired their big bazooka and made a very aggressive move, and now they're sitting back and watching that play out," Brad Bechtel, managing director at Faros Trading LLC in Stamford, Connecticut, said in a telephone interview. "They appear to be
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