Cable lower on European finance ministers meeting

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Source: Forexpros

On Monday, the Cable declined to a 3-day low versus the U.S. counterpart, as investors eyed an upcoming meeting of finance ministers in Luxemburg. GBP/USD hit a session low of 1.6072, and consolidated at 1.6078, which was a 0.33% decrease. The support was likely to be at 1.5992, while the resistance at 1.6175.

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Mon, 08 Oct 2012 15:49:00 GMT

U.S. Dollar higher versus Yen on profit taking

On Monday, the U.S. Dollar edged lower versus the Japanese Yen, as traders were locking in profits after U.S. employment rally. USD/JPY hit a session high of 78.25, and consolidated at 78.33, which was a 0.42% fall for the European morning trading session. The pair's support was likely to be at 78.12, while the resistance was prone to be 78.76.

Mon, 08 Oct 2012 14:32:59 GMT

Japan's car makers cut their production in China

Japan's Honda Motor, Nissan Motor and Toyota Motor plan to cut their production in China by half, as territorial disputes between Asia's trading partners decrease sales of Japan's cars in the world's biggest car market. Toyota's China Sales declined 40% in September from the previous year to 50 000 cars.

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