“The stock market has been on a fantastic tear, and investors are shifting to safer assets,” said Fabian Eliasson, head of U.S. currency sales at Mizuho Corporate Bank Ltd in New York. “The Greece problem is far from over. That will keep the euro under pressure versus the dollar.”
Saturday, March 20, 2010
Dollar, Yen Rise as Drop in Dow, Rate Increase Damp Risk Demand
The euro recorded its biggest weekly drop against the dollar since January as concern Greece will fail to secure financial assistance from the European Union lowered appetite for the currency. Sterling tumbled versus all of its most-traded counterparts tracked by Bloomberg after Bank of England policy maker Andrew Sentance said Britain may return to recession. Commodities fell.
“The stock market has been on a fantastic tear, and investors are shifting to safer assets,” said Fabian Eliasson, head of U.S. currency sales at Mizuho Corporate Bank Ltd in New York. “The Greece problem is far from over. That will keep the euro under pressure versus the dollar.”
“The stock market has been on a fantastic tear, and investors are shifting to safer assets,” said Fabian Eliasson, head of U.S. currency sales at Mizuho Corporate Bank Ltd in New York. “The Greece problem is far from over. That will keep the euro under pressure versus the dollar.”
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