Investor concerns following the resignation of the Italian Prime Minister caused the EUR/USD to fall within reach of a recent two-week low during overnight trading. Against the JPY, the euro fell 43 pips during the Asian session to reach its lowest level in 1 ½ weeks.
Gold prices saw slight upward movement last night, as concerns regarding the US “fiscal cliff” and euro-zone uncertainties boosted the precious metal’s safe-haven appeal. Gold has gained more than $6 an ounce since markets opened for the week and is currently trading at $1710.
Main News for Today
BOE Gov King Speaks- 17:15 GMT
• The British pound has taken losses against the USD, JPY and EUR in recent days
• If today’s speech signals positive growth in the UK economy, sterling may be able to recover some of its recent losses
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