24 Jul 2014
USD keeps the bid tone - Investec
FXStreet (Barcelona) - Jonathan Pryor, Corporate Treasury Analyst at Investec, observes the good performance of the USD in recent sessions.
Key Quotes
"Although intraday FX volatility is still extremely low, we’ve seen one directional USD flow all week".
"In fact, the dollar has strengthened against the Pound and Euro on the last 6 and 7 consecutive trading days, respectively, resulting in GBPUSD moving from almost 1.7200 to below 1.7050, whilst EURUSD has moved from the 1.36s to the mid 1.34s). Geo-political events (in Gaza and Ukraine) have sparked traders to reduce their risk positions (lending support to the USD) and it remains to be seen whether the underlying theme continues as we head into some of the week’s key data releases today and tomorrow."
Key Quotes
"Although intraday FX volatility is still extremely low, we’ve seen one directional USD flow all week".
"In fact, the dollar has strengthened against the Pound and Euro on the last 6 and 7 consecutive trading days, respectively, resulting in GBPUSD moving from almost 1.7200 to below 1.7050, whilst EURUSD has moved from the 1.36s to the mid 1.34s). Geo-political events (in Gaza and Ukraine) have sparked traders to reduce their risk positions (lending support to the USD) and it remains to be seen whether the underlying theme continues as we head into some of the week’s key data releases today and tomorrow."