The Financial Fixed Odds update from David Evans, Market Analyst, BetOnMarkets.

A couple of weeks ago we showed some tables displaying the biggest winners and losers on the forex markets for 2010.

Since then, there have been some interesting moves with a rebound in the Australian Dollar and New Zealand Dollar and an all out slump in the Pound.

The first able shows the major forex pairs ranked by the size of the move from peak to trough in 2010. This indicates the size of the moves at their extreme points.

The next table shows the biggest moves in 2010 based on current levels as of 05.30 on Monday the 22nd.

The Japanese yen and US dollar have still been the clear winners in 2010, with no other currency stepping up to move against them.

Between these two, the yen has made more ground than the dollar, but the gap certainly narrowed last week.

The euro still heads the biggest losers for the year. However the pack is more evenly spread with the British pound and Swiss franc coming in for some punishment.

The biggest turnaround has come with the Australian Dollar (AUD/JPY and AUD/USD).

Overall though, it’s been a pretty solid start to the year for the Canadian dollar (USD/CAD).

The Canadian is off by just 1.54% against the US dollar which apart from the yen is the best performance by any currency against the US dollar.

Today’s Early Forex Moves

After last week’s surprise announcement from the Fed that they would be raising the discount rate, there was a brief flurry of speculation that a general interest rate was in the offing.

No reality appears to be setting in and such speculation is diminishing. The US dollar and Japanese yen are falling back to day as a consequence.

Traders are also now interpreting the Fed’s move as being positive sign (markets can certainly be fickle).

The morning’s biggest mover is the AUD/JPY as traders recommence their interest in the high yielding Australian dollar. The euro is also making a better fist of things this morning.

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