Category: Currency Currents
- Published: 25 November 2008
- Written by Editor
Can we muster a 2-day stock rally?
Yesterday looked like another day foreshadowing a decent dollar correction on the bounce higher in stocks. This morning we wake to a stronger dollar again....hmmm...and of course “new” concerns about stocks, one story we saw read. We bit on the dollar move yesterday, expecting at least a 2-day ebb in risk aversion, playing for a short-term correction. That view isn’t looking as good today as it was yesterday
It all keeps coming back to the stock market—the key risk asset class; currencies are joined at its hip.