[B][U]Fundamental Headlines[/U][/B]
- [B]USDJPY[/B] - The Bank of Japan held its overnight lending rate at 0.50 percent for the sixth consecutive month, though one member, Atsushi Mizuno, voted for a hike. Subsequent hawkish rhetoric from Governor Fukui have led traders to price in a 50 percent chance of a 25bp increase in September.
- [B]EURUSD[/B] - German GDP crossed the wires as analysts predicted, showing a moderate 0.3 percent quarterly rate of growth - the slowest pace in a year and a half.
- [B]USDCHF[/B] - The number of employed people in Switzerland grew 2.4 percent from last year during Q2, led by expansion in the services sector. Vacancies and the outlook improved as well, boding well for Q3 labor market reports.
- [B]The European Union[/B] has lifted a ban imposed on UK meat exports after the outbreak of foot and mouth disease, and farmers will be able to resume shipments next week. According to the Meat and Livestock Commission, the UK has already lost £30 million in exports.
- [B]Bank of America[/B] acquired a $2 billion equity stake in Countrywide in a bid to bolster the confidence of creditors and investors in the mortgage lender. The news helped push Asian and European equity indices higher.
-Terri Belkas, Currency Analyst