FOREX ALERTS >>
DailyFX Plus Login

fundamental alert

Article

Forex Market Update: U.S. Dollar Drops as Asian Stocks Embolden Risk Appetite
Monday, 15 December 2008 05:44:04 GMT  |  Geng Chen, DailyFX Research
Delicious
Facebook

The U.S. dollar was broadly lower as risk appetite helped buoy currencies such as the AUD, EUR, NZD, CAD and GBP. A rise in Asian stock markets, with the Nikkei rose over 5%, emboldened the risk appetite. Stocks in turn were aided by news of China's stimulus measures, domestic measures announced recently in Japan and S. Korea and on hopes of a U.S. bail out. The expectations of a 50 bp rate cut by the FOMC this week is also weighing on the USD. The EUR/USD rallied from morning lows around 1.3382 to highs of 1.3501, with AUD rising from 0.6615 to session highs at 0.6704. The GBP/USD made a fresh session highs of 1.5069. Meanwhile, the USD/JPY was sidelined, opening around 91.00 and after early swings in a 90.49-91.36 range, held a tight range around 90.75-91.00 for much of the session, the EUR/JPY was unable to breach 123.00 this morning and remains bid but is getting little help from the USD/JPY

More Articles

Feedback Form