DY: Currencies Consolidate in Lightened Holiday Trade
Although the markets haven’t moved all that much overnight, the direction continues to be one which favors the USD, as the Greenback shows gains against all major currencies thus far on the day.
Although the markets haven’t moved all that much overnight, the direction continues to be one which favors the USD, as the Greenback shows gains against all major currencies thus far on the day. We do not expect to see a normal day of trade on Monday, with the European calendar bare and many traders off the desks for the Presidents’ Day holiday in the US and Family Day holiday in Canada. Nevertheless, risk aversion seems to be at the center of investor minds in light of the latest China reserve requirement tightening, ongoing concerns over Greece and the stability of the EU, and now renewed fears in the Dubai debt markets.
