Mid-Day Report: Dollar Pressured, Yen Follows on Risk Appetite

23 November 2009 @ 05:40 pm EDT

Dollar is still under much pressure as Gold surges to as high as 1167.8 today and remains firm. Yen also follows dollar lower as European equities are lifted by solid PMI figures. Further pressure is seen in both dollar and yen as US stocks open sharply higher. Commodity currencies reverse last week's losses and rebound on improvement in risk appetite while Sterling is also lifted by strength in UK stocks. Canadian dollar is additional boosted by stronger than expected retail sales report.

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