Euro remains the biggest winner from the recent bout of dollar weakness, with the common currency still the most net bought, according to BNY Mellon's iFlow indicator. Meanwhile, "the pace of outflows [from the dollar] is now more than three times the average USD flows over the past year," notes Samarjit Shankar at BNY. Combination of QE3 expectations and Moody's warning that a US downgrade might come next year prompt investors to shed the dollar and bid up most G10 currencies, with the Canadian and New Zealand dollars seeing some of the strongest net inflows, Shankar says. WSJ Dollar Index dipped below 70, now at 69.687.
Find us on Google+
No comments:
Post a Comment