The market was already pocketing takings from bets this week against the Dollar and the Yen when a source well-known with the US bank stress test outcomes said Bank of America was supposed to need additional $34 billion in capital. The news deepened losses in the Euro, NZD and AUD also prompted the USD to drop against the Yen, which has been used to support positions in commodity-related currencies in current weeks as investor confidence has picked up.
It breached 1.4 and that's bad news for the American Dollar.
If the oil and gold prices continue to shoot upwards like this, then I'd say that the EUR/USD pair shall definitely hit 1.45 maybe by next NFP weekend.
This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
By continuing to use this site, you are consenting to our use of cookies.