Forex Update: March 17, 2014

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March 17, 2014 | Forex News | Daily High/Low | Trend Meter | Trade of the Day

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March 17, 2014 GBP/USD EUR/USD EUR/JPY USD/JPY AUD/USD GBP/JPY
Resistance (High) 1.6667 1.3949 141.99 101.88 0.9099 169.63
Support (Low) 1.6603 1.3877 140.73 101.25 0.8994 168.32
Forex News

Yen Retreats as Russian Stocks Gain After Crimea

March 17, 2014 (Bloomberg) -- The yen weakened for the first time in six days against the dollar as rallies in Russian stocks and the ruble damped concern Crimea's vote to leave Ukraine would immediately lead to further turmoil in the region.

China's yuan slid to an 11-month low versus the dollar after the central bank widened its trading band. The euro erased losses against the dollar as the European Union and the U.S. imposed sanctions on individuals in Russia amid the standoff over Ukraine. U.S. stocks rose as a report showed American factory production climbed last month the most since August.

"There doesn't seem to be any big escalation between Ukraine, the West, and Russia; it's a pretty risk-on day," Charles St-Arnaud, a foreign-exchange strategist at Nomura Holdings Inc., said in a phone interview. "There was so much ...keep reading.

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