The US dollar continues to trend lower against European currencies

The US dollar continues to trend lower against European currencies

MRdollar

European Currencies Rally, Dollar-Bloc Heavy

This week’s pattern remainsintact.  The US dollar continues to trend lower against the European
currencies, but is firmer within the dollar-bloc and against the yen.
Spanish and Italian bond yields are lower, while the long-end of the
Japanese curve is heavy.  Equity markets are finishing the year with a
firm note, with board gains in Asian, with the notable exception of
Shanghai and Jakarta, and in Europe, with the exception of Stockholm.

 

Theeuro is at 7-month highs today, pushing toward $1.3300. The next target
is near $1.3385.    Sterling has been bid to near the year’s high set
in late September just above $1.6300. There is little chart resistance
until closer to $1.6500.   The dollar’s slide against the Swiss franc
has extended to CHF0.91 and appears headed for CHF0.9000.

 

The dollar-bloc is not participating in this move against the greenback.
This week, for example, the New Zealand dollar has fallen as almost as
much as the yen (1.03% and 1.08% respectively).  The Australian and
Canadian dollars are off 0.04% and 0.57% respectively.

More

 

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Candice writes for several publications, including The Christian Post, Red State, The Black Sphere and Patriot Update. She is the Science & Tech Editor at the Minority Report Blog and the founder and Editor-in-Chief at Front Lines. She's also the founder of Candice Lanier's Tech News and works as a computer consultant. Additionally, Candice is an antiques dealer.

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