 In the currency markets last week, Dollar, Yen, and Swiss franc Emerged as the standout performers. Conversely, New Zealand and Australian dollars lagged, painting a picture suggestive of risk aversion within the markets. However, this sentiment has not yet manifested itself in the stock markets, at least not with major American and European indices. It's yet to be determined whether these developments in the currency markets are a precursor to trends in other sectors. Euro and sterling also found themselves on the weaker side of the spectrum. Despite persistently hawkish comments from ECB officials, the common currency was relatively unmoved. The Pound maintained a cautious stance throughout most of the week until comments from BoE Governor concerning the possibility of a pause, following the anticipated 25-basis point rate hike, sent it into a tumble. Despite these fluctuations, the Canadian Dollar held its own, ending the week on a mixed note. |
