Forex Markets Hesitant, Eurozone and UK PMIs, BoC in Focus
The forex markets are currently extending a phase of indecision. Dollar, after briefly rallying against Euro and Swiss Franc, saw its gains diminish. Australian Dollar's initial surge, fueled by optimism over China's proposed stock market rescue plan, also quickly dissipated. Presently, Japanese Yen emerges as the strongest currency for the week, continuing its near-term consolidation. It is closely followed by Dollar and British Pound. On the other end of the spectrum, Australian Dollar is lagging, trailed by Canadian Dollar and Euro.
Source: actionforex.com