Session Recap: Dollar mix, stocks up and Sterling jumps

By FXstreet.com | August 04, 2014 AAA

FXStreet (San Francisco) - Monday was a quiet session in the currency market as investors are taking a relax somewhere far from charts and calls. The first day of the week saw a stocks and sterling's bounce.



The US stocks market bounced back on Monday after biggest weekly drop since 2012 as investors performed a strong session amid upbeat earnings report of companies such as Berkshire Hathaway and Groupon.



On currencies, EUR/USD priced sideways along the day and now it is trading at 1.3417, up 0.20% on the day, having posted a daily high at 1.3434 and low at 1.3379. "From a technical point of view, the EUR/USD traded steadily between 1.3410 and 1.3430 being this last the 23.6% retracement of the 1.3639/1.3366 slide," comments Valeria Bednarik from FXStreet.



The GBP/USD bounced back from Friday's lows of 1.6810 and now it is closing at 1.6860 after posting its second positive day in the last 14 sessions. "We finish near the highs of the day as offers at the 100-day moving average weigh," says Adam Button from ForexLive.com. "Hard to call it anything more than a bounce at this point."



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