Thursday, October 14, 2010

EUR: Euro again ignited because of the weakening dollar, the tone of which had asked Asia

Euro again ignited because of the weakening dollar, the tone of which had asked Asia against the backdrop of political action in Singapore and South Korea. Scandinavian currencies went into growth since the start of the Asian session. The euro was also supported by more frequent talk of exit strategies ECB, which sharply contrasts with the prospects of quantitative easing in the U.S..

In addition, yesterday's data on Chinese reserves have also supported the euro from the perspective of further diversifying reserves into euros Asian central banks. Finally, yesterday's comments about the inefficiency of Weber's unilateral intervention in combination with the lack of action by the Bank of Japan reinforced the view that the ECB is going to remain in place until the euro is rising, as though it may be uncomfortable for exporters.

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