Fact the U.S. Commodity Futures Trading Commission (Commodity Futures Trading Commission) released its weekly data showed the euro on Tuesday to reach the scale of net short positions since June last year, the highest level. Short bets the euro will decline, so when these traders to settle their short positions, had been empty for the sharp rise in the euro will appear.
New York trading Friday, the euro higher against the dollar this week, the exchange rate has reaped more than two years since the biggest weekly gain, by the strong euro-zone countries and the European Central Bank auction of government bonds (European Central Bank) President Terry Xie (Jean-Claude Trichet) the attitude of surprise boost.
ICE U.S. Dollar Index fell to 79.068 from 79.155.
Recommended reading end of the year Award Great traps high financial impact of the RMB exchange rate geometric outbound Chinese New Year as Electronic trading system at the same time also showed up this week, the cumulative rate of 3.7% since December 2008 for the biggest weekly gain.
dollar yen 82.85 yen, 82.80 yen late Thursday. While the euro against the yen 110.95 yen, to 110.67 yen late Thursday. Reported $ 1.5867 against the dollar, sterling, $ 1.5835 late Thursday. 0.9635 Swiss francs was reported dollar, 0.9637 Swiss francs late Thursday.
first time this year in Spain and Italy have successfully completed Treasury auction Thursday. As with Portugal, Spain and Italy are also facing huge budget deficit, so traders are concerned about their financial situation to determine whether the two countries may eventually need assistance.
was oscillating currency movements on Friday, New York, the euro at the end of trading session up slightly, to further expand the gains earlier in the week. Friday's Bank of China decided to raise deposit reserve ratio limits the news of investor risk appetite, and mixed U.S. economic data also prevent the dollar recovered some ground recently.
In addition, Jean-Claude Trichet's statement also boosted the euro sentiment. Trichet said the ECB could raise interest rates later this year to control inflation. Prior to the European Central Bank has been working to resolve sovereign debt problems, analysts are far beyond the statement of expectations.
, analysts say, in Portugal, after the success of Treasury auctions, traders began to settle the short positions. Portugal on Wednesday morning successfully issued bonds, the auction winning bid yield below 7%. 7% is to determine whether Portugal will soon have followed the steps of Greece and Ireland to apply for relief as an important dividing line. Analysts said the auction results in the short term government bonds eased the fears.
BNY Mellon's Woolfolk said that next week, the euro may fluctuate within a range of 1.32-1.35 dollars.
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