1 Dec 2014
Greenback driven down - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet highlighted the open for the week.
Key Quotes:
“Dollar edged lower against its rivals this Monday, driven by Moody’s rating agency and gold overwhelming came-back following the result of Switzerland referendum”.
“Early on the day, Moody’s downgraded BOJ sovereign debt rating from AAA3 to A1, triggering the initial round of dollar selloff, as yen appreciate on the back of the idea the Japanese Central Bank will have it hard to continue adding stimulus”.
“Gold on its side, recovered over $80 per ounce after bottoming around $1142 early Asia following the winning NO vote in the Swiss referendum campaign, preventing the American currency to regain its footing”.
“As for Europe, failing Manufacturing PMI readings were ignored by investors, yet point to a continued economic slowdown in the region”.
Key Quotes:
“Dollar edged lower against its rivals this Monday, driven by Moody’s rating agency and gold overwhelming came-back following the result of Switzerland referendum”.
“Early on the day, Moody’s downgraded BOJ sovereign debt rating from AAA3 to A1, triggering the initial round of dollar selloff, as yen appreciate on the back of the idea the Japanese Central Bank will have it hard to continue adding stimulus”.
“Gold on its side, recovered over $80 per ounce after bottoming around $1142 early Asia following the winning NO vote in the Swiss referendum campaign, preventing the American currency to regain its footing”.
“As for Europe, failing Manufacturing PMI readings were ignored by investors, yet point to a continued economic slowdown in the region”.