The Dow Jones FXCM Dollar Index (ticker: USDOLLAR) closed the quarter just short of two-year highs as an outright plummet in gold prices pushed the Greenback higher against commodity-linked currencies.
Euro strength is based on ideal conditions is a fragile state. Against a long-standing troubled fundamental backdrop, the shudder in risk appetite this past month and the ECB monetary policy meeting this week brings the threat of heavier selling dangerously close.
The Japanese Yen continued to give back the advance from May, with the USDJPY climbing back above the 99.00 handle, and the low-yielding currency may face additional headwinds in July should the Bank of Japan (BoJ) show a greater willingness to further embark on its easing cycle…
The British Pound was a bottom performer among the majors this past week. Finding bullish sentiment going forward should prove likewise difficult.
Gold continued its historic descent this week with prices plummeting through support at $1273 before settling around $1226 at the close of trade in New York on Friday. This week’s 5.4% decline pushes the quarterly losses to 31%, the largest quarterly decline seen in over 93 years…
The Australian Dollar faces a volatile trading week ahead as the RBA delivers its rate decision against a backdrop of heavy-duty US economic data.
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