Dollar tumbled broadly again as falling treasury yield pushed US and German stocks to new record highs. Near term trend in the greenback should have reversed, but it's unsure whether it's ready for medium term down trend resumption yet. At least, EUR/USD will have to break through 1.2 handle with some conviction, while Dollar index has to break through 91.30 support. Nevertheless, risk is on the downside for the greenback. Staying in the currency markets, Canadian Dollar ended as the second weakest, followed by Swiss Franc. New Zealand and Australian Dollar ended as the strongest, following broad risk on sentiments, as well as solid economic data. Sterling was also setting the stage for a come back, but takes more time to consolidate the momentum. Euro and Yen ended mixed. |
