Dollar Turned into Consolidation, But Remains Vulnerable Against Swiss Franc After edging lower initially, dollar turned into consolidation last week while the Japanese yen recovered on a couple of factors. Firstly, European debt crisis came back into focus on concern that Greece will have to restructure it's debts and Irelands credit rating was downgraded again by Moody's. Secondly, stronger than expected Chinese inflation data affirmed the view of more tightening ahead. Thirdly, there were also renewed concern on Japan's nuclear crisis. Nevertheless, dollar's recovery was weak so far as it faced strong pressure from strength in commodities, where gold made another record high. Swiss Franc was impressively strong in the markets, making another record high against the greenback. Commodity currencies were mixed even though strength was apparent in New Zealand dollar. Full Report Here... | 
 |
No comments:
Post a Comment