Forex Update: February 25-26, 2014

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February 25-26, 2014 | Forex News | Daily High/Low | Trend Meter

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Yen Gains as China Slowdown Spurs Growth Concern; Rand Rises

February 25, 2014 (Bloomberg) -- The yen advanced the most in more than three weeks against the dollar as a slump in China's currency and its stock market stoked concern growth in the world's second-biggest economy is slowing.

Japan's currency gained versus most of its 16 major peers on demand to unwind carry trades while the yuan tumbled the most in more than five years on bets the central bank wants an end to the currency's gains. Demand for the less-risky currencies rose after a Russian official said Ukraine faces a "high" chance of defaulting on its sovereign debt. South Africa's rand reached a  ...keep reading.

 
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February 25-26, 2014 GBP/USD EUR/USD EUR/JPY USD/JPY AUD/USD GBP/JPY
Resistance (High) 1.6724 1.3765 140.95 102.61 0.9042 171.04
Support (Low) 1.6642 1.3715 140.14 102.01 0.9005 170.07

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