Weekly FX roundup: Markets rally against Dollar

14 June 2010

Risk-correlated FX trade saw the markets rally against the US Dollar this past week, with the EURUSD breaking the psychological 1.2000 barrier and closing the week 1.20% higher at 1.2112 levels. There wasn't an overwhelming sense of directional conviction, and the currency and commodity markets were taking direct cues from the equity markets and the lack of developing negative news which had traders cutting safe haven trades. The GBPUSD closed the week higher, but was more modest in its gains (higher by 0.68%) while the commodity segments all closed higher against the Dollar.

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