samedi 25 septembre 2010

Forex, Dollar bounces down again and euro gains

Forex: Euro rises, boosted by rally in the euro/Swiss franc cross
Dollar bounces down again and euro gains
Dollar index lower, dlr/yen back below 84 yen
China data, Dubai World deal supports commodity currencies
(Recasts, adds quotes, updates prices)
LONDON, Sept 10 (Reuters) – The dollar gave up most of its gains versus the yen on Friday, heading towards 15-year lows and keeping intervention prospects alive, while the euro rallied against the Swiss franc as investors sold safe-haven currencies.
Chinese trade data which showed higher-than-expected imports for August along with news that Dubai World had reached a deal to restructure liabilities boosted risk demand and pushed currencies such as the Australian dollar higher.

The dollar fell against a basket of currencies .DXY =USD, having failed to hold above the index’s 55-day moving average at 82.80. Against the yen, the dollar was off its session highs of 84.28 yen JPY=, falling to 83.90 yen.
It rose earlier in the session, helped by an increase in U.S. Treasury yields on Thursday on U.S. jobs data.
“There has been a moderate improvement in risk appetite which is seeing the dollar fall,” said Daragh Maher, deputy head of global foreign exchange research at Credit Agricole CIB. “But it is still very quiet there and its unlikely to lead to any trend.”
By Anirban Nag

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