The dollar is showing strength as we approach the European opening. Eur/Usd is just off fresh lows trading at 1.3584, likewise with Gbp/Usd currently at 1.5642and Usd/Chf at 1.0802.
The debt problems in Greece still persist, dragging down the Euro. There are also renewed uncertainties over the credit market in Dubai, which should lead to more USD support. Dubai and Dubai World have not made an offer to creditors on the holding company’s debt restructuring. This just leads to more speculation that the global economy is not out of the woods.
