About time! Emerging market currency increases have provided a drive to push the USD lower, on top of the market shift from institutional and speculative investors moving towards the Gold market. With the increasing tensions emerging in Ukraine have refueled uncertainty in the market place.
Although, aside from what we already know, the recovery amongst the European majors have not been driven by any particular news but simply by the continuing decline in the USD; with the USD Index (DXY) is currently below the 80.05 basis point support level. As the previous week's rather sluggish recovery for the USD coupled with some positive data have not helped it to sustain above the 80.50/60 levels. Price momentum have diminished with investors shifting from both sides of the market with the Dow Jones recovery before the day's decline. These market shifts and price squeeze have enabled market traders to move in both directions between stocks, commodities and the currency market.
Spot.Check: GBP.EUR.AUD vs. USD
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