Forex Flash: Foreign currencies hold heavy tone against USD – Wells Fargo

FXstreet.com (San Francisco) - The U.S. dollar is modestly stronger against its major trading counterparts today, save yen. EURUSD has traded down to as low as 1.2860, finding temporary support in the 200-day EMA and, at current levels, is set to close the North American session with its largest daily loss since July 20.

"Given the IMF's comments and only modest forward progress in Europe from the finance ministers meeting, the cautious mood will likely prevail today, meaning many foreign currencies could trade with a heavy tone against the U.S. dollar," comments Nick Bennenbroek, Head of Currency Strategy at Wells Fargo Bank.