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FXstreet.com (Crdoba) - The Dollar pulled back against majors on Monday rising only against the Yen which was the worst performer across the board. Optimism helped stocks recover and pushed Greenback and the Yen down, as demand for safe assets eased.
EUR/USD finished close to the highs of the day, near the 1.3930 zone. The pair is still facing a downside pressure but the Euro managed to recover a small part of last week losses. Cable tumbled during the European session across the board but later recovered and finished lower against the Euro and the Swiss Franc, but with gains to the Dollar the Yen.
The Japanese currency fell across the board. The Yen posted monthly highs against European currencies during the Asian session but then pulled back sharply losing previous gains.
During Monday's session the Dollar fell as stocks rose and news coming from the US were positive. Currencies tied to commodities rallied helped by a sharp increase in crude oil and gold. AUD/USD posted the biggest daily gain in more than 2 weeks. The pair was rejected from levels below 0.8800 and jumped to 0.8920.
Forex: Dollar rally takes a pause on Monday
Posted 2/1/2010 5:28 PM ET by from FXstreet.com
EUR/USD finished close to the highs of the day, near the 1.3930 zone. The pair is still facing a downside pressure but the Euro managed to recover a small part of last week losses. Cable tumbled during the European session across the board but later recovered and finished lower against the Euro and the Swiss Franc, but with gains to the Dollar the Yen.
The Japanese currency fell across the board. The Yen posted monthly highs against European currencies during the Asian session but then pulled back sharply losing previous gains.
During Monday's session the Dollar fell as stocks rose and news coming from the US were positive. Currencies tied to commodities rallied helped by a sharp increase in crude oil and gold. AUD/USD posted the biggest daily gain in more than 2 weeks. The pair was rejected from levels below 0.8800 and jumped to 0.8920.
