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US dollar was broadly weaker last week as initial optimism over the debt ceiling deal quickly faded

.EUR/USD rallies to 8 months high based on the poor resolution on the US political crisis. EUR/USD is now trading at 1.378. The next pull back line is targeted at 1.365 temporarily.

GBP/USD (Cable) continues to rally high due to poor job report. The pound enjoyed gaining around two cents against US dollar last week. GBP/USD is currently testing resistance around 1.62/25. If this breaks, next potential level to watch is 1.6375 (2013 High).

USD/CAD reversed direction this week, as the Canadian dollar gained close to one cent. The pair closed 1.0284 last week. The pair opened the week at 1.0365 touched 1.0391, then dropped to low of 1.0277. Now the pair is trading at 1.0284.

USD/JPY reversed direction last week as the Japanese yen posted modest gains. The pair closed the week at 97.69. The weak job report has caused a pull back for the pair. USD/JPY is testing key resistance level at 98.40-45, 100-day moving average.