Session Recap: Dollar advances in a quiet day

By FXstreet.com | July 23, 2014 AAA

FXStreet (San Francisco) - Pretty quiet day in the currency market as investors performed a typical summer day while stocks reached record highs. In Forex, the USD advanced against its major competitors while it fell versus the Canadian Dollar.

The EUR/USD closed its fourth negative day in a row after the pair is closing at 1.3463, down 0.02% on the day, having posted a daily high at 1.3475 and low at 1.3455. "Talk in Europe had "sovereign" demand lying in wait at 1.3455, just ahead of the well-documented 1.3450 barrier option interest," commented Gerry Davis from FXBeat.

The GBP/USD declined for sixth day as the pair tested July's lows around 1.7025. Currently, GBP/USD is wrapping the day at 1.7043, down 0.12% on the day, having posted a daily high at 1.7097 and low at 1.7024.

The Greenback's advance continued with the USD/JPY as the pair rose for fourth day. Currently, USD/JPY is trading at 101.37, up 0.04% on the day, having posted a daily high at 101.41 and low at 101.19.

On the other hand, the USD/CAD fell for second day as the pair traded under pressure ahead of the Canadian retail sales data. Currently, USD/CAD is trading at 1.0723, down 0.13% on the day, having posted a daily high at 1.0747 and low at 1.0709.

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