EURUSD
USD has had several hits since the beginning of the European sessions.
Many Explosions in Iraq has hit the police and governmental buildings.
That is beside new explosions wave in TURKEY before the NATO coming
meeting in turkey targeting the hotel that should have BUSH during his
visit to Istanbul. Many geopolitical concerns in the morning before the
next USD slump had come economically this time on the weak US durable
goods data of May and the US jobless claim. All of these factors were
enough to prolong a dovish sentiment toward the USD. The next important key
this week for the EUR is the germane IFO. So please try to wait for it.

USDCHF
Surely the CHF was the winner among all these recent explosions and
geopolitical concerns in the Middle East. This sentiment can continue even
after the 30 June the day of authority delivery in IRAQ!

GBPUSD
GBP was negatively impacted by the recent sentiment that there is no
coming soon hikes in UK and this was ensured by the release of UK June
CBI Industrial Trends Survey which came at -6 lower than expectations of
+3 but after the recent weak US data the rate differential impact has
raised again that the FOMAC can not rise the rate in US faster than
expected. Also we should wait for tomorrow`s US Q1 GDP and the price
deflator final readings as this week main key on the inflation in US (the
price deflator is the favorite inflation indicator of Greenspan)

USDJPY
JPY was the winner recently across the broad on its recent upbeat trade
surplus among continuous market expectations of further good coming
data. This can be met soon with MOF threats of new interventions on 107
falling. The market can refocus on the monthly release of the BOJ`s
foreign exchange reserves.