It is always easy for a winner-take in the forex market – and when I mean easier to say, in short U.S. Dollar.
The U.S. dollar fell to its lowest in a year brought against a basket of currencies on Tuesday after extensive stocks of benefits that a return of risk taking. The trading volume was significantly higher as investors returned from vacation and began to assess the events of recent weeks.
The dollar decrease was also due to rising prices for commodities such as gold, are traded over $ 1000 for the first time since February caused. Concern about the situation of the dollar as a reserve currency were also a factor, as a United Nations report called that for a new global reserve system, the decline in demand for the dollar.
Clock at 11:15 GMT, the U.S. Dollar Down 1 The 14% against the euro to 1. 4494, 1% and 92 Japanese yen. 23, A 1% to the pound to 1 6494, before. 07% for the Canadian dollar down to 1. 0785, below. 8% for the Australian dollar. 8622, below. 5% for the New Zealand dollar for. 6959 and from 1 4% in Swiss francs to 1 0463
The U.S. dollar fell to its lowest in a year brought against a basket of currencies on Tuesday after extensive stocks of benefits that a return of risk taking. The trading volume was significantly higher as investors returned from vacation and began to assess the events of recent weeks.
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The dollar decrease was also due to rising prices for commodities such as gold, are traded over $ 1000 for the first time since February caused. Concern about the situation of the dollar as a reserve currency were also a factor, as a United Nations report called that for a new global reserve system, the decline in demand for the dollar.
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At 11:15 pm EDT, the U.S. Dollar Down 1 The 14% against the euro to 1. 4494, 1% and 92 Japanese yen. 23, A 1% to the pound to 1 6494, before. 07% for the Canadian dollar down to 1. 0785, below. 8% for the Australian dollar. 8622, below. 5% for the New Zealand dollar for. 6959 and from 1 4% in Swiss francs to 1 0463
The Australian dollar has in recent months, stellar and I have met no secret of my love for this coin. But the U.S. dollar, it has now struck me as the most lucrative trade if the currency is also when you on the short side of things, he's pretty good. Even to lose miserably against the pound, that was the dollar and I do not anticipate that this change in the short term.
One reason is the recent development of the United Nations, which calls openly for "a new global reserve system," money – a new world order of things, if you will. Now remember that the United Nations so far not a fan of the USA for some time, despite the U.S., plus payment of their accounts and a strong supporter of most social programs, such as UNESCO and UNICEF. The world hates, the top dog, and if not for the U.S. veto has, I know it would be much more open criticism, and I dare say, sanctions against the largest economy in the world.
But the UN announcement follows the decision of President Obama, he becomes the first U.S. president to chair the powerful (I'm cynical here) Security Council. In a move designed to bridge the gap between the perception that the world wants in the "snooty" and "outsider," America, the President on the world stage with an open hand and show that we can all work together approach. Well, I bet that this step is less concerned with the dissemination of what the UN calls yesterday to do – but I'm not qualified to make that accusation.
In the online forex market, we have seen the dollar started its collapse. China, which had remained discreet about their concerns on the dollar for months, is also back in the picture. The speculation is that the $ 2 trillion U.S. dollars reserves was calm settled and settled in gold – which would explain the sudden increase in product color. Apart from the vocals have once again sending a senior official of the Communist Party to the media describing the use of words such as "appalled" to see how they feel about the free use of the United States presses Treasury to cover their bills.
Cheng Siwei, a senior leader in China, said the UK's Daily Telegraph that Beijing would be forced to its foreign policy, reserve currency redesign. Without doubt, this is a serious impact on the USD and is the reason why I think no matter what the data show a rebound, the dollar is determined on a downward trend in the coming months. China do not do things half ass in the air, and you can bet that this is the last thing you learn is more discontent U.S. lenders. The season is ripe for a controversy – that in September, and historically a bad month for the U.S. Dollar – My bet is that this will be one of the worst in history was. Sit back and short – you will not regret you did.
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