Dollar gains by Default

From oanda.com

Until now it was easy, the market was trading FX on monetary policy. Nothing is that simple when you are dealing with a group of individual countries that created the EUR. In this holiday shortened week, Greece is resurfacing as a default risk. Complicating matters, the True Finn’s Party’s elections gains is creating the possibility that Portugal’s EFSF program may need to find a way to exclude participation by Finland. All of this has occurred on the back of a surprise Chinese hike in its reserve requirements over the weekend. Cutting risk seems