US Dollar Avoids Breakdown Despite Stock Rally, Bond Auction Looms Ahead (Euro Open)
Monday, 27 July 2009 04:12:44 GMT
Written by Ilya Spivak, Currency Analyst
The US Dollar avoided a breakdown in overnight trading despite sharp gains across Asian stock exchanges as the market continued to look ahead to this week’s record-setting $115 billion US Treasury bond auction that promises to boost long-term interest rates and spur demand for the greenback. Germany’s GfK Consumer Confidence report is on tap in European hours.
Monday, 27 July 2009 04:12:44 GMT
Written by Ilya Spivak, Currency Analyst
The US Dollar avoided a breakdown in overnight trading despite sharp gains across Asian stock exchanges as the market continued to look ahead to this week’s record-setting $115 billion US Treasury bond auction that promises to boost long-term interest rates and spur demand for the greenback. Germany’s GfK Consumer Confidence report is on tap in European hours.