Enter multiple symbols separated by commas

Dollar on the Rise

The U.S. dollar showed strength on Tuesday against almost all major currencies as the currency market absorbed the dismal ISM data and looked towards a slowdown in Europe. There are increasing indications that the ECB may follow the U.S. Fed and also cut rates, if not Thursday, than possibly in the 2nd quarter.

  • Overnight, the Yen gained against the dollar and the euro on fears of the global economic slowdown and the sharp decline in the Asia markets with the Nikkei dropping 4.7% and the Hang Seng falling 5.4% made investors less willing to take on risk.
    -The dollar has lost almost 5% against the yen year-to-date. The Euro is also down about 5% against the yen year-to-date.
080205 Euro Yen.jpg
080206 USD Yen.jpg
  • The dollar index, moved off its 2-month lows hit last week to close up 1% on Tuesday for its biggest one-day gain since mid-December/
    -The dollar index tracks the U.S. dollar vs. a basket of 6 major currencies including the Euro, Yen, Pound, Canadian Dollar, Swedish Krona, and Swiss Franc
080206 USD Index.jpg