As what has been mentioned in the recent analyses the greenback has been underpinned by the Fed of interest rate decision which is waited later today because of the recent US improving of US consuming and labor data. We have seen last Friday US November retail sales which were expected to be up monthly by just .6% coming at 1.4% and the preliminary release of US UN Michigan University consuming sentiment survey of December which was forecasted to be 68.5 from 67.4 in November and coming at 73.4 which could add to the market speculations of a near coming tightening action staving off the US quantitive easing policy of the Fed which started after the release of the better than expected labor data of November which have shown falling of the unemployment rate to 10% from 10.2% in October and losing of just 11k in US out of the farming sector which have interpreted to a nearer coming Fed's tightening action than what was discounting as the Fed's governors have repeated several times that there is no change of the Fed's easing policy without a crucial change in the labor market.

The single currency is still trying to get out of the negative impact of the Greece huge unsustainable debts worries which rose later this increasing the concerns about the future of the financial situation in Euro zone in the face of such problems. The single currency could not come over 1.48 again versus the greenback since the news about the rising of Greece debt to 300B Euros, in spite of the stocks rising which weighed on the greenback in the last session as the risk appetite has increased again pushed by new optimistic growth data from China and the confirmation of no downgrading of US and UK creditability rating. 

The worries about World Dubai creditability could contain the market sentiment in the recent few days while most markets were off because of the thanksgiving holidays and the Islamic sacrificing Eid of the Moslems which increased the market volatility as the low volume of the markets. Most analysts believe in troubles in the short term but the Emirate government and central bank could calm down the market showing its ability of funding its banking system and endure this exposure which has resulted from just a shortage of liquidities in the near term.

The greenback has gained strongly from the news across the broad in the beginning before giving back most of its gains with market digesting of the news and several announcements from England, Russia and France Prime ministers that the impact of the problem will be short lived referring on the ability of emirate to get out of the crediting worries soon with no influences on the global recovery.

The weights have increased on the greenback in the beginning of this week as the speculation on further extended time of having the Fed's Quantitive easing steps on the market than its other counterparts central banks is containing the current market sentiment with the US stocks rising again and the investors' risk appetite increasing selling the greenback as a funding currency of their carry trades underpinned by rising of the US existing home sales of October by 10.1% while the market was waiting for gaining by just 2.3% from 9.4% in September. The Gold could record a new high at 1173.6 and it is now trading well above 1160 and Dow has closed above 10400 again at 10450 after facing a strong selling by the end of last week.