Dollar Suffers Critical Breaks but Risk Trends May Salvage It
After three consecutive weeks of advance, the Dow Jones FXCM Dollar Index (ticker = USDollar) finally closed on a bearish footing through this past Friday.
ECB Surprises, Boosts Confidence in Euro; Data Offers Support as Well
After a rough start to the week that had the Euro eying exchanges rates below 1.3000 versus the US Dollar, the common currency turned around rapidly after a decidedly more positive European Central Bank policy meeting on Thursday.
Japanese Yen at Risk for More Losses as BoJ Mulls 2% Inflation Target
The Japanese Yen continued to lose ground against its major counterparts as Prime Minister Shinzo Abe pushes the Bank of Japan (BoJ) to adopt a 2% target for inflation, and the low-yielding currency may face additional headwinds over the near to medium-term as the central bank continues to carry out its easing cycle.
Australian Dollar May Fall After US “Fiscal Cliff” Deal
A bare-bones domestic economic calendar once again leaves the Australian Dollar at the mercy of broader risk appetite trends.
Gold Rebound Finds Few Bids- Bears In Control Sub $1693
Gold was firmer at the close of trade this week with the precious metal advancing 0.23% to trade at $1659 at the New York close on Friday.
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Source: Daily fx