Archived IMT (2009.08.11)

It may be a quiet Tuesday session but USD is gradually gaining more ground, dragging GBPUSD back down near the key 55-day MA at $1.64, which is also the 5 month trend line support on the weekly chart. CAD is the worst performing currency among the majors since the NY, with USDCAD probing the 21-day MA at 1.0925, The pair has posted its 4 straight daily increases since January. USDJPY remains vulnerable to further pullbacks towards 96.40 and 95.80. Watch Ashraf on Bloomberg TV discussing FX and the FOMC this morning at 10:35 GMT, 11:35 BST.