Forex | Forex | Currencies continue tracking the swings on the stock markets (07/07/2009 07:51:02)

Currencies continue tracking the swings on the stock markets

On Monday, a flaring up in investors risk aversion at the start of the new trading week triggered the usual mechanisms in the currency markets. Selling EUR/USD (and even more EUR/JPY) was an almost evident trade in this market. The ongoing decline in the oil price pointed in the same direction. Most other stories, including the market talk on potential G8 ‘action’ with respect to the dollar’s role as major reserve currency had hardly any impact on currency trading. The decline on the European


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