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U.S. Dollar Momentum Builds as Greek Concerns Linger
Despite the €130 billion bailout agreed upon yesterday for Greece, market participants are questioning the ability of the Greek government to fully implement the necessary measures. Earlier today, Fitch Ratings cut Greece’s long-term ratings to C from CCC, a sign that a default is indeed coming in the next few weeks.
Euro Setting Up For Major Decline, Sterling Poised For Correction
Renewed fears surrounding sovereign debt crisis dragged on risk-taking behavior and the flight to safety may gather pace during the North American trade as European policy makers struggle to restore investor confidence.
Gold at Risk as Dollar Recovers, Crude Oil Supported by Iran Tensions
Gold and silver prices may weaken as the US Dollar recovers. Iran-linked jitters continue to support crude oil. Copper is vulnerable amid risk aversion.
Yen Selling Continues, Euro May Rise on PMI, Pound Eyes BOE Minutes
The Japanese Yen continued to fall in Asia on rising US bond yields. The Euro may rebound on improving PMI data. The Pound is focused on BOE meeting minutes.
Greek Saga and Uncertianty Continue; Yen Emerges as Major Story
With all of the focus on the Eurozone in recent months, traders might be forgetting to look elsewhere where the Yen has begun to sell off aggressively…

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