 Extending fall in commodity prices and recession fears were the main theme in the markets last week. Australian Dollar ended as the worst performer, followed by New Zealand Dollar, and then Sterling. However, Canadian Dollar was surprisingly the strongest one, partly helped by resilient oil prices. Meanwhile, extended pull back in US and European benchmark treasury yields boosted the Japanese Yen. Dollar was some what supported by mild risk-off sentiment, but capped by weakness in yields. Swiss Franc's appeared to be losing some momentum after a powerful, broad based rally. While Euro was weak initially, it was saved by buying in some crosses and ended mixed. |
