Forex trends: euro shows mix trading

image During Friday’s early Asian session, the single currency lost ground versus its main counterparts, hitting new lows against yen, dollar and franc. On the other hand, euro surged versus pound. 

The European currency plunged to a fresh 3-month low of 1.5078 against the Swiss franc in early Asian trading on Friday. The EUR/CHF pair, which closed yesterday’s deals at 1.51, is presently worth 1.5095 with 1.505 seen as the next target level.

The euro slumped to a 9-day low of 132.54 against the Japanese yen around 9:20 pm ET, compared to 133.86 hit late New York Thursday. The next downside target for the EUR/JPY pair is seen around the 131.7 level.

Against the US dollar, the euro slipped to a 4-day low of 1.4616 by 9:20 pm ET and this may be compared to Thursday’s North American session closing value of 1.4667. The EUR/USD rally is presently worth 1.4647 with 1.457 seen as the next target level.

However, the European currency spiked higher against UK’s sterling on Friday morning in Asia mainly due to across the board weakening of the latter. The euro climbed to 0.9195 against the pound before moving on holding pattern around 8:00 pm ET, setting the highest level for the pair since April 1st. The euro-pound pair was worth 0.9133 at Thursday’s North American close.


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