The U.S. Dollar remains under pressure atthe mid-session following overnight news regarding a strengthening globaleconomy and weaker U.S.business conditions in July.
The U.S. Dollar remains under pressure atthe mid-session following overnight news regarding a strengthening globaleconomy and weaker U.S.business conditions in July.
Strength in the global manufacturing sectorgave investors little reason to lock up lower yields, driving investors intohigher yielding assets. The report also forced investors to question thestrength of the U.S.recovery.
The key question remains, how long willinvestors continue to seek risk? At some point, like they have in the past,investors will turn risk averse, seeking projection in the lower yieldingDollar and Yen.
The Euro surged to the upside as investorshad little choice but to buy the European currency following strong PMI reportsfrom across Europe. All of the news seems tobe centering on developing strength in Europe and continued weakness in the U.S.
