 While Dollar extends recent gains following stronger than expected PPI data in early US session, it's upward momentum was somewhat capped by the retreat in treasury yields as their correlation continues. Nevertheless, the greenback is still staying as the strongest one for the day and the week. It remains to be seen if there is sustainable selling, or profit-taking, to indicate that the greenback has topped. For now, Yen remains the worst performer for the week. The unusually quietness of Japanese authorities suggests that they might allow Yen to depreciate further towards 160 mark before coming back for verbal intervention again. Sterling is currently the second worst, followed by Aussie. On the other hand, Canadian Dollar is the second best, followed by Swiss Franc. Euro and Kiwi are positioning in the middle.... |
