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US Session: Dollar Deviates From Risk Aversion Story as Traders Look for Hard Fundamentals

05/29/09 by Daily Forex Snapshots  
Filed under Forex & Futures

   

G10 Advancers and Decliners vs USD NZD 1.55 AUD 0.62 GBP -0.21 JPY -1.76

The trend in dollar strength has deviated from the risk aversion trade and seems to be moving more in line with hard economic data. Traders are using the economic story to build a case whether or not financial markets are poised for a recovery sooner than expected. The EurUsd rose 45pips to the high 1.38 price area, while the UsdJpy surged 180pips settling around the low range of 97. The…

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