Financials dominate dollar moves

Financial-markets conditions will continue to dominate near-term currency sentiment and dollar moves.

The dollar weakened to lows near 1.5950 against the Euro on Wednesday, but the Euro struggled to regain any momentum and the US currency stabilised close to 1.59 in early New York before advancing on net positive factors.

US consumer prices rose by a stronger than expected 1.1% in June as energy prices rose strongly to give a 5.0% annual gain which was the highest annual rate for 16 years. There was a 0.3% core increase for the month to give a 2.4% annual increase which will maintain inflation fears within the Federal Reserve and markets.

Read Full Article from International Business Times

- Posted: 2008-07-17 08:31:21

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