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Uneven US Dollar Correction may Continue
The US dollar turned in a mixed performance last week. Favorable economic data and a recovery in equities helped the Antipodean currencies advance the most. The New Zealand dollar rallied nearly 2%, and the Australian dollar gained 1.5% on the week. Their central banks meet next week, but there is little chance of a change in policies. Hopes of an EU-UK agreement lifted sterling a little more than 1%. The euro was little changed. The funding currencies, which are often confused as safe havens; namely, the Japanese yen and Swiss franc, were the weakest of the majors, losing 1.1% and 0.65% respectively. The outcome of ... (full story)
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