Risk appetite is coming to the Forex market, sending high beta currencies higher. And, normally, this would mean that the US dollar would also be higher against the Japanese yen. Today, though, the yen is higher against the greenback.
US dollar is lower across the board right now, dropping as optimism returns to the market in the form of better economic news. The news is especially encouraging in Europe, where eurozone manufacturing has expanded.
Swiss franc is mixed today, higher against the euro, and lower against the US dollar and the Great Britain Pound. Even so, the recent economic forum at Davos has expressed confidence in the Swissie’s cap against the euro, and the ability of the franc to pull back against the 17-nation currency as needed.
Cautious optimism has returned to the markets today, bringing risk appetite and sending the US dollar lower against other major currencies.
Canadian dollar is pulling back today, heading lower as risk appetite fades away, and as oil prices drop. Commodity currencies are struggling right now on risk aversion and a higher US dollar. It’s not surprise that the loonie is experiencing difficulties as well.
US dollar is rising as Greece once again takes center stage in the world markets. Greenback is gaining as concerns about what’s next for Greece — and the eurozone — weighs on risk currencies, especially the euro.
Euro is managing to hold to most gains made earlier today, thanks to a bit of hope out of Greece, and disappointing economic data. However, some of the euro’s early gains have been pared, and risk aversion could overpower the 17-nation currency, and send it lower.
US dollar remains lower on the Forex market, dropping as economic conditions continue to exert downward pressure. Greenback is lower as the latest news comes in about the GDP, and as Forex traders continue to weigh the latest statements from policymakers in the United States.
UK pound is higher against the US dollar today, gaining as other currencies, in general, are preferred to the greenback. However, the UK pound is down against the euro, as well as down against commodity currencies today.
One of the biggest drivers of the Australian dollar today is the news that Russia wants to start using the Aussie as a reserve currency.
Recent comments
1 year 12 weeks ago
1 year 12 weeks ago