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3 Feb 2015
Greenback takes a nose dive - FXStreet
FXStreet (Guatemala) - Valeria Bednarik, chief analyst at FXStreet explained that the USD took a dive overnight.
Key Quotes:
"A combination of several factors that spooked bears. Starting earlier on the day and despite Industrial produced prices fell by 1.0% monthly basis and 2.7% compared to a year ago in Europe, the pair triggered its first round of stops above 1.1365, the top of its latest range, as Greece decision to honor its debts fueled risk appetite."
"Surging oil prices up to $54.22 a barrel, fresh 4-week high, weighed on the greenback, whilst mid American afternoon, FED´s Kocherlakota said the Central Bank Fed should not raise rates in 2015."
Key Quotes:
"A combination of several factors that spooked bears. Starting earlier on the day and despite Industrial produced prices fell by 1.0% monthly basis and 2.7% compared to a year ago in Europe, the pair triggered its first round of stops above 1.1365, the top of its latest range, as Greece decision to honor its debts fueled risk appetite."
"Surging oil prices up to $54.22 a barrel, fresh 4-week high, weighed on the greenback, whilst mid American afternoon, FED´s Kocherlakota said the Central Bank Fed should not raise rates in 2015."