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Strong US data challenges USD rally
First the USD rises sharply on the delay in Greece bailout negotiations, but then another round of very strong US data boosts risk sentiment and punishes the greenback. Another nervous weekend lies ahead despite the intraday turnaround. Risk off and JPY off, too (This paragraph written prior to US data releases) The further delay in Troika/Greece bailout efforts until Monday has risk in a rather sour mood, with the Euro and the traditionally most pro-risk currencies competing for the status of weakest currency among the G-10. The US dollar is of course at the top of the league in these circumstances as it clearly ... (full story)
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