USD/JPY is above 98.50 and EUR/USD is at 1.3970 as the USD looks a bit more attractive today, probably due to weekend events in Iran. The CHF is also a bit stronger on the crosses which confirms that there is some geo-political risk aversion plays taking place.
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USD looking sprightly this morning
June 15 2009, 1:30am | Comments »
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Pimco’s El-Erian: Fed unlikely to raise rates this year
Of course, he’s talking his book, but more than likely he has it right, saying it is unlikely the Fed will hike rates this year. The market got a bit excited earlier this week at the notion that a hike could come before year-end but those hopes have moderated. Further, El-Erian says the dollar could be embarking on a long-term multi-year erosion of its international standing. Sounds like they are limit-long bunds as well! EUR/USD trades at NY session highs of 1.4078 after the comments.
June 12 2009, 7:14pm | Comments »
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