Not exact matches
The
euro, which has been knocked by
weaker - than - expected economic data and growing doubts about when the European Central Bank will normalize its monetary policy, fell 0.67 percent
against the greenback to $ 1.998.
The dollar index rose to near three - month highs
against the
euro after
weaker - than - expected German data hurt the
euro.
NEW YORK, April 30 (Reuters)-
Weaker - than - expected German data hurt the
euro against the U.S. dollar on Monday, with investors further unwinding short positions on the greenback that were based on assumptions that the European Central Bank was nearer to unwinding its stimulus.
One of the many surprising aspects of financial market performance over the past year has been the
weak performance of the US dollar, which has fallen by close to 10 per cent on a trade weighted basis and by more than 10 per cent
against the
euro.
If the Dollar broke lower, its likely too that bonds and duration would rally; defensives (staples, utes, reits) and growth (tech / biotech / discret) squeeze
against crowded value unwinding (fins, energy, indus); yen and
euro would squeeze mightily; gold squeezes while copper pukes in a favorite commodities «pair» unwind; HY could reverse
weaker vs IG (currently everybody long CCC vs BB on the high beta trade)... this would be the theoretical path to our next pain - trade or even VaR shock.
I think the Fed will deliver an upbeat outlook on the economy and the dollar will surge, especially
against weaker currencies like the
euro.
The
euro plunged from near two - year highs to a six - week low
against the dollar in early November, after
weak inflation figures stoked fears about demand in the 17 - member economy, according to Nawaz Ali, UK market analyst at Western Union Business Solutions.
I'm not too sure about that, however, since the
euro traded roughly sideways
against the Greenback but was
weak against most other currencies.
If the
euro or pound is
weak against the dollar, it's a great time to go.