The US dollar continues to move up and down with the risk flavor of the day, as today it was a move by traders to being more risk oriented, and consequently the greenback fell in value as a result against other major currencies.
Currencies linked to commodities peformed against against the US dollar, while the British Pound weakened against the dollar.
While the UK isn't focused on as much in relationship to the European Union because they still have their own currency, it is in danger of losing its AAA debt rating according to Fitch Ratings, as their slow response in implementing austerity measures is causing investors to lose confidence in the Pound.
The Canadian, Australian and New Zealand dollars did well today because of their link to commodities, after taking a beating lately because of risk concerns related to raw materials.
Tuesday, June 8, 2010
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