Quote:
Originally Posted by Alizain
news :
Dollar Steady after Existing Home Sales, Yen Weakens
Carry trades is the focus in early US session today. US equity markets opened higher following news that JPMorgan Chase increased its offer for Bear Stearns five fold from $2 per share to $10. The stock markets are additional boosted by stronger than expected existing home sales report from US. Sales unexpected rose for the first time in seven months by 2.9% in Feb to 5.03M annualized rate. The data suggests that there might be a temporary pause in the housing market crash. The Japanese yen and Swiss Franc are generally lower across the board. Commodity currencies, including Aussie and Loonie extend rebound in respective crosses as well as against dollar.
The greenback remains relatively steady in tight range against Euro and Sterling as markets' focus lies elsewhere. Gulf Finance House's chief economist al-Yousuf said that Gulf Cooperation Council member states should not rush to depeg from dollar in short term and expects dollar to rebound in second half of 2008.
so, is carry trades give affect to USD movement ??
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I don't really know. You tell me
btw: the whola dollar up move has been canceled today :-F Crazy markets...
