Back
17 Apr 2013
Forex Flash: No major news boosting the USD - BBH
FXstreet.com (Córdoba) - According to the BBH analyst team, there does not appear to be any major news boosting the greenback today.
"Perhaps it is technical, as the foreign currencies were unable to regain some significant levels, like $1.32 for EUR, $1.54 for GBP, and 1.02 for the loonie", says BBH. "Perhaps it is growing signs that despite the softness in the US economy, conditions elsewhere continue to deteriorate".
"Whatever the combination, it does appear that Tuesday's bounce in the foreign currencies has been exhausted for now and near-term dollar gains seem likely", they conclude.
"Perhaps it is technical, as the foreign currencies were unable to regain some significant levels, like $1.32 for EUR, $1.54 for GBP, and 1.02 for the loonie", says BBH. "Perhaps it is growing signs that despite the softness in the US economy, conditions elsewhere continue to deteriorate".
"Whatever the combination, it does appear that Tuesday's bounce in the foreign currencies has been exhausted for now and near-term dollar gains seem likely", they conclude.