Forex Trading Live Update, Friday 22nd June

by Joe Oliver, Forex Trading-Pips

The US dollar consolidated recent gains on Friday after appreciating against most major currencies throughout the week. Many currency traders were caught wrong footed by Federal Reserve’s decision on Wednesday not to embark on a fresh round of full-blown quantitative easing. US dollar index has appreciated nearly one percent over the course of the past five trading days.

US$ Index daily bars

US$ Index daily bars

Euro currency traded flat in a narrow range against the US dollar on Friday following release of a survey which reported German business confidence at the lowest level in over two years.

EUR daily bars

EUR daily bars

US dollar appreciated sharply against the Japanese Yen this week, in the process breaking out of a two week consolidation pattern and gaining over two percent since Monday.  Prime Minister Yoshikiko Noda struggled to overcome  resistance to his bill to double Japan’s consumption tax before a lower-house vote.

JPY daily bars

JPY daily bars