FX Weekly: 6th September 2010
Mixed macro data from the G20 led to mixed price action in most currency pairs
A broadly risk-neutral week included several positive surprises to appease the recovery skeptics. Double-dip fears in the US eased away from the brink with additional Fed easing now more likely to be delayed further
Swissie strength once again making the headlines as EUR/CHF tested fresh record lows – central bank intervention speculation in the G20 is not purely JPY related anymore as market rumors of fresh SNB action begin to surface
Sterling pairs took a hit, as macro data disappointed and growing fears of QE expansion began to feed through into intra-day price action. A higher probability of additional Fed easing is spurring investors into pricing in a higher likelihood of the BoE following suit
Commodity currencies performed well with best gains coming against the US Dollar but closed the week only marginally higher in non-US crosses
A broadly risk-neutral week included several positive surprises to appease the recovery skeptics. Double-dip fears in the US eased away from the brink with additional Fed easing now more likely to be delayed further
Swissie strength once again making the headlines as EUR/CHF tested fresh record lows – central bank intervention speculation in the G20 is not purely JPY related anymore as market rumors of fresh SNB action begin to surface
Sterling pairs took a hit, as macro data disappointed and growing fears of QE expansion began to feed through into intra-day price action. A higher probability of additional Fed easing is spurring investors into pricing in a higher likelihood of the BoE following suit
Commodity currencies performed well with best gains coming against the US Dollar but closed the week only marginally higher in non-US crosses
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