The flight to safety rally into the U.S. Dollar fizzled overnight, putting downside pressure on the Greenback. Continued unrest in Egypt has been sending investors scurrying into the safe-haven appeal of lower-yielding currencies, but it looks like this morning that the Japanese Yen is the currency of choice.
Dollar Falls against Most Majors; Risk appears to be Back On
The U.S. Dollar fell against most major currencies in overnight trading as investor appetite for risk increased while tensions over Irish debt issues eased. Pressure increased on the Dollar amid optimism that a bailout for Ireland will prevent contagion across the Euro region’s debt markets.
U.S. Dollar Finishes Down against Most Majors; Risk Sentiment Shifting
Forex Traders Turn against Risk; U.S. Dollar Up versus Most Majors
The U.S. Dollar is trading higher this morning against most major currencies except the Japanese Yen as traders have turned against risk and are seeking shelter in lower yielding assets. The overnight strength in the Dollar is being attributed to heavy selling pressure on the Euro and British Pound.