The euro traded as high as $1.3038 earlier Wednesday (September 15) and currently sits at $1.3011 after upbeat US data this week has cause some speculators to move away from the dollar and into more high risk investments.

Currency Overview
Euro is the outperformer overnight after Equity markets close positive and European peripheral spreads improve
Light profit taking on AUD & NZD as technical indicators point to oversold levels.
Sterling actively down against mopst major counterparts as RICS house Price data declines to worst level sicne May 2009.
The euro posted its biggest one day gain versus the dollar in two months yesterday as strong Chinese economic data boosted confidence, encouraging investors to move back into riskier currencies. Risk in FX has given back some of it’s gains from yesterday’s session. The …

A shutdown of a major oil pipeline in Illinois combined with a bigger than expected drop in US crude inventories helped push oil prices for benchmark crude scheduled for October delivery to $75.65, up by $1.40 from Thursday’s (September 9) settle price on the New York Mercantile Exchange.

Sterling continues to recover from recent lows versus the euro, aided by euro zone sovereign risk issues, as well as July’s UK industrial production report which showed reasonable growth. Versus the dollar, sterling recovered some of its losses yesterday before coming under fresh selling pressure late in the day. In a report released yesterday, the NIESR estimates that the UK economy grew by 0.7% in the three months to August, down from 1.3% in the three months to July. The Bank of England will be the focus of attention today …

The euro has dropped sharply in the last 36 hours after new data showed risky debt held by European banks could be a bigger problem than was previously indicated.

After 5 consecutive days of negative trading against its major counterparts the Pound opens up down against virtually of 16 of its counterparts once again today, erasing much of Friday’s gains following the highly influential US Non-Farm Payrolls data. The UK currency has also lost considerable value amid strong speculation that the Bank of England are considering extending its emergency stimulus of buying up government bonds and gilts as part of its assett purchase program. The Pound currently trades well below the key 1.20 psychological level against the Euro and …