Some would consider this past week’s close a boon for the dollar because the selling pressure eased up into the close. In reality, the drop in volatility is neither beneficial nor detrimental to the currency. We have simply seen the market hit a saturation point for fundamental warnings.
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Dollar Light on Data, Heavy on QE3 and Downgrade Speculation
Dollar Selling Doesn#146;t Necessarily Require a Risk Appetite Drive
The US dollar fell against all of its most liquid counterparts this past week. In fact, the a href=”http://www.dailyfx.com/forex_market_news/us-dollar-index/” class=”gsstx”Dow Jones FXCM Dollar Index/a tumbled for 9 out of the 10 past trading days and subsequently closed out the trading week at its lowest level since November 14th.
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Dollar Selling Doesn#146;t Necessarily Require a Risk Appetite Drive
The US dollar fell against all of its most liquid counterparts this past week. In fact, the a href=”http://www.dailyfx.com/forex_market_news/us-dollar-index/” class=”gsstx”Dow Jones FXCM Dollar Index/a tumbled for 9 out of the 10 past trading days and subsequently closed out the trading week at its lowest level since November 14th.
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