G-20 leaders backed a proposal to set up an early warning indicator to avoid further crisis in the future, while failing to reduce discussions regarding exchange rates and capital cash flows in markets. Indicative guideline design will be worked on by finance ministers from the G-20 countries to work as an early indicator for crisis, according to a joint statement released by the group. Ireland government debt worries affected trading once again where the euro ascended against majors after Ireland government bond surged which sent yields on the bonds down to the lowest level since the introduction of EU bailout plan in May. Irish bond yields declined by nearly 70 basis points. The euro-dollar pair traded higher, at 1.3755, while setting a high of 1.3765 and a low of 1.3571, while opening at 1.3664. Standard Chartered advised investors to sell the euro against the dollar on prospects that the currency would fall to 1.3450 levels. The pair is in attempt to retest the breached support at 1.3800 that converted to a resistance. A clear breach of the mentioned levels would pave the path for the pair forth further bullishness targeting 1.3820. The pound rose as well, after setting a low of 1.5984 against the dollar, but currently the pair rebounded to trade at a high of 1.6165. opening levels were set at 1.6120, the expected pattern for today is bullish, targeting 1.6185 and 1.6205, which was activated as the pair breached the key resistance at 1.5805. As for the Japanese yen, the dollar declined against the yen. The dollar-yen pair’s trading at 82.35, compared with the opening levels of 82.47, setting a high of 82.54 and a low of 81.63. The breach of 82.00 levels paved that path for further bullishness, targeting 82.65 and 83.00, but to achieve those targets, stability is required above 81.40.

Source