The U.S. dollar index is made up of six currency pairs, and is heavily weighted, by around 75%, toward the euro and the great British pound. Tuesday trade has seen moves lower in the value of the euro and the pound which have allowed the dollar index to hold steady at 77.15, which is its 20-day simple moving average. However, traders will be very much aware that the moves higher on the dollar against the euro, pound and the Canadian dollar are against the heavy losses being seen by the dollar against the Swiss franc and Japanese yen.
The moves toward the dollar could be classified as a flight to safety that is more likely to be the repatriation of overseas investment, now that uncertainty surrounds the global traded market. The moves away from the dollar, as seen in the Swiss franc and Japanese yen, could be attributed to the
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