Wednesday FX View: Sterling Stands Out as Dollar Gains Stall
January 27, 2010 by Seeking Alpha
Filed under Tips
Original Article from Seeking Alpha Dollar Currencies
Andrew Wilkinson submits:
Little change is evident at the start of New York foreign exchange trading midweek, but risk aversion earlier created a six month low for the euro, which also felt the weight of stories carried by the Wall Street Journal and the Financial Times both suggesting that the government of Greece may attempt to sell €25 billion of its bonds to Chinese investors. The Greek finance minister denied a report that his government had mandated investment banker Goldman Sachs to sell its bonds to China. Perhaps the word ‘mandated’ was what upset the minister. Despite a five-week low closing low for Japan’s benchmark Nikkei Dow stock index, there appears to be a shortage of fresh impetus to further inspire risk aversion on the agenda. While that could quickly change, investors have to act swiftly to lighten the load on their favored short candidates with the dollar showing signs of edging back after recent gains.
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