The Second Half: Euro, Sterling, Yen, Aussie, Canada
|The ‘second half’ of the currency trading year got off to a bang-up start on Thursday with the ECB’s surprise policy announcements. The dollar had gathered strength all summer against the Euro, Sterling, Yen and Canadian Dollar and saw volatile range trading against the Aussie. Economic fundamentals now favor the Dollar with the U.S. economy improving while the EMU stagnates and the rate cycle is even more clearly biased toward the U.S. currency. In the not distant background are more than enough geo-political threats to keep the dollar’s potential safe-haven trade active. We will look at the fundamental and technical prospects for the world’s major trading pairs and essay some predictions for where the markets will stand at year end.
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