Dollar Decline Resumes, EUR/USD to Take on 1.3737
After brief consolidation, dollar's decline resumes today with the dollar index diving through 81.87 low finally.
Risk appetite comes back into play as VIX, CBOT's volatility index, and Europe's equivalent VStoxx both dropped to lowest level since Lehman's bankruptcy. Sentiments is also lifted after Bank of America said it had raised $13.47b in less than two weeks, clearing concern of bank's ability to raise capital in markets. US stocks open higher and is set to challenge 8587 recent high. Commodity currencies remain the stronger ones against dollar while Canadian dollar is additionally boosted with crude oil extending recent rally to 61 level. Euro is also set to take on March's high of 1.3737 against dollar.
After brief consolidation, dollar's decline resumes today with the dollar index diving through 81.87 low finally.
Risk appetite comes back into play as VIX, CBOT's volatility index, and Europe's equivalent VStoxx both dropped to lowest level since Lehman's bankruptcy. Sentiments is also lifted after Bank of America said it had raised $13.47b in less than two weeks, clearing concern of bank's ability to raise capital in markets. US stocks open higher and is set to challenge 8587 recent high. Commodity currencies remain the stronger ones against dollar while Canadian dollar is additionally boosted with crude oil extending recent rally to 61 level. Euro is also set to take on March's high of 1.3737 against dollar.
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