Markets:The US dollar was generally stronger on Monday as European PMIs deteriorated, leading to strong euro selling and moderate GBP selling. The com
Markets:
The US dollar was generally stronger on Monday as European PMIs deteriorated, leading to strong euro selling and moderate GBP selling. The commodity currencies were generally stronger against the dollar after China hinted at more stimulus, that also helped to underpin commodities.
The yen strengthened early on worries about intervention but backed off later on a stronger dollar, positive risk appetite and Bank of Japan uncertainty. The pair fell to a low of 140.76 before climbing to 141.81.
I spoke with Reuters earlier today about the dollar picture:
“When you survey the global picture, there are more reasons to be
optimistic about the U.S. than almost anywhere else, which translate to
the dollar,” said Adam Button, chief currency analyst at ForexLive in
Toronto. “The U.S. economy really is the best of a mediocre bunch.”
www.forexlive.com