Market Comments:The dollar enjoyed a second session of respite from the relentless selling of late as the move in risk aversion that had been seen in Asia on Friday extended across to the US session. We saw tests of critical levels in some currency pairs and the question on everyone’s lips was whether this 2-day dollar rally marked a paradigm shift in market sentiment or whether it was merely profit-taking and those players that had enjoyed the past six months taking their cash from the table and banking it.The answer probably came in the Asian session this morning. the gains of the past two sessions on the index as gold proved to be the start performer, blasting through the 1,150 mark to hit new all-time highs. There was no one specific news item that powered gold higher though some suggested the lack of Tokyo liquidity played a part.
No comments:
Post a Comment