| | | | * 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
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| 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...
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Best regards,
DailyFX Research Team
research@dailyfx.com |
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