Mar 4, 2013
Session Recap: USD consolidates as cautious mood persists
The dollar trades firmer overall, although major crosses remain confined to recent ranges as markets begin the week on a cautious mood, with stocks falling around the world. The euro remains virtually unchanged around 1.3000 while Italy's political uncertainty persists. GBP/USD managed to hold above the 1.5000 support despite weak UK construction PMI. Other majors are also steady around opening levels, with the main exception of the Aussie which fell to an 8-month low before recovering somewhat. Eurozone finance minister meet today to discuss a financial aid package for Cyprus and maturity extensions for Ireland and Portugal.
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