FOREX: US Dollar Gains May Be Cut Short by EU Summit
US Dollar Extends Losses as Asia Reacts to Greek Budget Vote.
The Forex is faithful words on international money income source. The US Dollar came intense selling pressure as a vote signing off on an austerity plan.
A scheme including tax hikes, spending cuts and government asset sales. Paved the way of aid for the beleaguered Mediterranean nation.
The Euro Zone, boosting market-wide confidence and weighing on safe-haven demand. The Dow Jones FXCM US Dollar Index fell as much as 0.6 percent against its leading counterparts while the MSCI Asia Pacific regional stock index rose 1 percent.
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Broadly speak; the US currency appears corrective, with optimism likely to fade as fears of a global economic slowdown, in the second half of the year return to the forefront.
Similar by weakness in analogous readings from China and the US with the former telegraphed to have fallen to an 11-month low by HSBC. Taken together, this amounts to broad-based weakness in the world’s leading growth engines, weighing on risk appetite and boosting the safety-linked Dollar against the majors.
German Labor Market Data Likely to Pass with Little Fanfare
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