Friday, February 18, 2011

Dollar resumes fall after London close

The greenback bearish momentum accelerated after London close, as the American session shows improving risk appetite: stocks and commodities are strongly up, sending dollar towards weekly lows against most of its rivals; EUR/USD extended gains to 1.3685 daily high by the time of writing, while GBP/USD remains near 1.6244 weekly high.

News that finally Egypt had approved the pass of two Iranian warships through Suez Canal has diluted recent risk aversion trigger by Israel Foreign Minister on the issue, hitting particularly the American currency, as also safe havens CHF and JPY continue gaining ground: USD/CHF is testing 0.9460, support area, previous all time low before past December run to 0.9300, while USD/JPY already overcome yesterday’s low and quotes at 83.05.

source: fxstreet.com


11 comments:

  1. Do you have a target price in mind for the /DX? Downside of course.

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  2. Interesting video, kinda gives an insight on the type of person you need to be, or change into, to do the kind of work that you do.

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  3. too bad, will it rise again in the near future?

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  4. It's good to hear that the Suez Canal is running smoothly again. I could see that flaring up into a major problem in the region.

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  5. theyre inflating the hell out of the usd.

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  6. Hear that flushing? It's the dollar. Dammit...

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  7. It's the Federal Reserve, they are just printing it like Hallmark cards without it being backed by anything more than more debt....sucks. Oh well, at least I'm out of there now LOL.

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  8. I just wish it could all be SORTED OUT.

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