05-17-2010, 07:01 AM
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Superior Investor
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Join Date: Sep 2008
Posts: 11,435
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Daily Report: Dollar and Yen Higher on Risk Aversion, EUR/USD Makes 4 Year Low
Dollar and yen are broadly higher as the week starts on risk aversion as Nikkei drops -2.17% while crude oil also breaches 70 level. EUR/USD is sent to 4 year low of 1.2233, breaking 2008 low of 1.2329. However, the common currency manages to stay in range against commodity currencies while EUR/CHF is still holding on to 1.4000 psychological level. Dollar index breaches 86.87 medium term resistance and is set to extend current up trend towards 2009 high of 89.62 next.
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