Daily Fundamentals - 10.11.11

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*    Dollar Extends its Tumble with its Biggest Drop in 10 Months *    Euro Rally Duration Depends on Market's Natural Skepticism *    British Pound Tumbles with BoE Weale's Comments, In Sympathy with Euro *    Swiss Franc Rallies Despite Euro Performance, Rumors of 1.30 EURCHF Floor *    Australian and New Zealand Dollars Surge as Yield Appetite Leveraged *    Japanese Yen Holds its Ground against Dollar Despite Risk Shake Up *    Gold Marks its Highest Close in Two Weeks In Spite of Euro Promises Written by: John Kicklighter, Senior Currency Strategist Dollar Extends its Tumble with the Biggest Drop in 10 Months We have seen the right mix of headlines and technical developments to encourage risk appetite to advance for a fifth consecutive day through Monday's close. For the sentiment benchmark S&P 500, this optimism has translated into a dramatic 120 point reversal from a 12-month low tagged just last week. Alternatively, for a safe haven that caters to the extreme side of risk aversion (liquidity demand), the US dollar has suffered with its longest tumble since a similar five-day decline through August 17th. In fact, just to reiterate the importance of safe haven flows as a driver for the greenback, we have seen that the biggest jump in confidence in weeks has driven the Dow Jones FXCM Dollar Index (ticker = USDollar) to its biggest single-day decline since December 3rd...   Download the Full Article Best regards, DailyFX Research Team research@dailyfx.com DailyFX Home | research@dailyfx.com | Contact US ©2009 DailyFX. All Rights Reserved. Forex Capital Markets, L.L.C.® assumes no responsibility for errors, inaccuracies or omissions in these materials. Forex Capital Markets, L.L.C.® does not warrant the accuracy or completeness of the information, text, graphics, links or other items contained within these materials. Forex Capital Markets, L.L.C.® shall not be liable for any special, indirect, incidental, or consequential damages, including without limitation losses, lost revenues, or lost profits that may result from these materials. Opinions and estimates constitute our judgment and are subject to change without notice. Past performance is not indicative of future results.

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