Dollar: A Thunderous Collapse or Slow Revival
The dollar has suffered. A 1.1 percent tumble through the past week marks the currency’s worst performance since October 18 – notably, when the greenback bottomed out a three-month slide.
What’s the Risk of a Much larger Japanese Yen Breakout?
The Japanese Yen surged against major forex counterparts as the S&P 500 and Japanese Nikkei 225 tumbled. A rush to safety favored the JPY, and the fact that it trades at critical resistance (USDJPY support) suggests the week ahead could bring further volatility.
GBP/USD Remains Poised for Higher High on Strong U.K. Recovery
The British Pound struggled to hold above the 1.6800 handle after failing to clear the February high (1.6821), but the fundamental developments coming out next week may generate fresh highs in the GBP/USD as the economic recovery in the U.K. gathers pace.
Gold at Major Inflection Point Ahead of Fed Beige Book – $1327 Key
Gold saw the largest weekly decline in four months this week with the precious metal off by more than 3.4% to trade at $1335 ahead of the new York close on Friday.
Chinese Yuan Risks Drop to 12-Month Lows On Heavy Data
The Chinese Yuan (also called the Renminbi) attempted a recovery in its opening move of this past week, but the currency would ultimately end back up on the cusp of 12-month lows against its US counterpart.
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Source: Daily fx
