Daily Report: Risk Aversion Drives Dollar and Yen Higher, Aussie Hardest Hit

[Forex-Outlook]

Risk aversion continues to drive dollar and yen higher today. DOW was down -1.08% overnight after German Bafin announced to ban naked short-selling of Eurozone government bonds, CDS and shares of a group of 10 leading German financial stocks. Asian equities are broadly lower but received some support as China stocks are in a technical recovery. Though, Nikkei is still down -0.54%. Crude oil is under tremendous pressure and breached 68 level to 67.9 so far and remains weak. Dollar index managed to break through 87.01 level to recent medium term up trend.

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