..guess market worries USD is loosing its “oil-power” when middle east changes that much. You never know which way new goverments would go.
Michael on
March 1st, 2011 17:08 GMT
Or how to explain USD weakness Jamie?
Jamie Coleman on
March 1st, 2011 17:11 GMT
The way I explain it is the flood of petro-dollars, in addition to the the still large-scale intervention by Asian economies, prompts heavy reserve diversification by Middle Eastern and Asian central banks. The euro is disproportionately supported by that activity given its role as the principle dollar alternative….
G on
March 1st, 2011 17:26 GMT
“Risk aversion”. Seems to be the new thing these days to explain all sorts of things.
Only yesterday, popping to Tesco’s, I realized there was a small risk of me crashing the car. So, made sure I sold my GBP and bought CHF and JPY. You know, just to be on the safe side
Jamie Coleman on
March 1st, 2011 17:31 GMT
Worked, didn’t it?
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..guess market worries USD is loosing its “oil-power” when middle east changes that much. You never know which way new goverments would go.
Or how to explain USD weakness Jamie?
The way I explain it is the flood of petro-dollars, in addition to the the still large-scale intervention by Asian economies, prompts heavy reserve diversification by Middle Eastern and Asian central banks. The euro is disproportionately supported by that activity given its role as the principle dollar alternative….
“Risk aversion”. Seems to be the new thing these days to explain all sorts of things.
Only yesterday, popping to Tesco’s, I realized there was a small risk of me crashing the car. So, made sure I sold my GBP and bought CHF and JPY. You know, just to be on the safe side
Worked, didn’t it?