FOREX-Dollar and euro rally vs yen and Swiss franc

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Re: FOREX-Dollar and euro rally vs yen and Swiss franc

Post  XREDXR on Sat Nov 06, 2010 12:36 pm

News that Dubai World had reached a deal torestructure liabilities helped ease recently renewed fearsabout Dubai's debt woes and also boosted risk demand..

The yen was down against the dollar but remained near the15-year high touched earlier this week, keeping prospects foryen intervention alive.

The Swiss franc stumbled as investors sold safe-havencurrencies.

"There has been strong risk assumption on the China dataovernight," said John Doyle, senior currency strategist atTempus Consulting in Washington. "The lack of U.S. economicdata will also allow the dollar to trade in line withequities."

For the moment, currency markets shrugged off worries aboutEuropean banks and news of a possible 9 billion euro capitalraising by Deutsche Bank , ahead of ameeting to finalise European capital rules at the weekend.

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