Back
25 Apr 2013
Forex Flash: Dollar retreats on majors as risk sentiment stabilises - OCBC Bank
FXstreet.com (Barcelona) - Emmanuel Ng of OCBC Bank notes that the dollar retreated against the majors on Wednesday as risk appetite levels stabilized as US data (March durable goods orders) provided little joy for USD bulls.
He sees that EUR managed to shake off a disappointing German Ifo as hopes for an imminent formation of a coalition government in Italy grew. Meanwhile, he notes that JPY remained under pressure across the board with little to distract investors from a dovish yen bias. He writes, “Elsewhere, the NZD led the way higher against the USD on better risk appetite, a recovery in commodities, and a less dovish than expected RBNZ.”
He sees that EUR managed to shake off a disappointing German Ifo as hopes for an imminent formation of a coalition government in Italy grew. Meanwhile, he notes that JPY remained under pressure across the board with little to distract investors from a dovish yen bias. He writes, “Elsewhere, the NZD led the way higher against the USD on better risk appetite, a recovery in commodities, and a less dovish than expected RBNZ.”