The previous trading week has been dominated by an increasingly good sentiment which has known quite an expansion at the end of the week. This risk appetite has had quite a negative effect upon safe-haven currencies throughout the week, causing the most damages to the US Dollar which is already in a difficult situation due to the fact that banks all over the world are doing their best in keeping the value of the currency low so that the global economic crisis does not have so many bad consequences upon their economies.
Friday was the first day when the US Dollar started to grow a little, suggesting the fact that the risk appetite sentiment may be over. This growth has also been correlated with the fact that the European concerns are not yet totally over and with the fact that the fundamental data concerning the US showed some positive figures. The US manufacturing PMI grew from 50.8 Read more »