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Sterling and Yuan Resilience, While Rate Differentials Aid Dollar?
The US dollar rose against nearly all the major currencies last week. The yen was the sole exception. Risk appetites were shaken by repeated cycles of hope and disappointment over the outlook for additional fiscal support in the US and Europe's brinkmanship in the UK-EU trade talks. For the most part, the greenback did not break above key chart points, though the euro flirted with support a little below $1.17 and made a marginal new low for the month. Of the majors, the Australian dollar suffered more than a 2% decline following the strongest signals to date that that Reserve Bank of Australia will do more to support ... (full story)
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