After a rally that set the greenback to the highest level in 2010 versus the euro last week, the dollar started this Monday’s session losing versus important worldwide currencies, as risk appetite brought investors to purchase assets in
The U.S. dollar became less attractive today as expectations regarding the global economic recovery in 2010 gained strength before reports that are likely to bring positive data in both North America and Europe, allowing the euro to gain versus the greenback after finally an agreement was made between Greece and the EU to solve the southern nation budget deficit crisis. A positive trend in commodity markets also boosted appeal for currencies tied to growth, specially in the South Pacific region.
According to analysts, we are expecting a new swing in the beginning of this week as uncertainty still plagues markets worldwide, and high volatility is expected for the next sessions, this time with a positive tone, if the forecasts are confirmed in the reports to be released this week.
EUR/USD traded at 1.3483 as of 04:21 GMT from as low as 1.3417 this Monday.
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