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Forex Flash: Near-term bias remains bid USD – Wells

By FXstreet.com,  June 08, 2012, 02:17:00 PM EDT

FXstreet.com (San Francisco) - The US dollar and Japanese yen are stronger across the board, having gotten a safe-haven boost from concerns over global economic growth and helped by Federal Reserve Chairman Ben Bernanke's hesitation on further monetary stimulus.

The euro has given up a large share of this week's gains, and a reports are circulating the newswires citing sources that suggest Spain will request European aid over the weekend.

From Vassili Serebriakov, Currency Strategist at Wells Fargo Bank: "The near-term bias remains for 'safe haven' US dollar gains, although we believe that a European aid package for Spain that helps recapitalize its banks would probably constitute a positive development for the euro and the broader risk sentiment."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

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