• Weekly Foreign Exchange market Summary 27/10/09

    The greenback had another mixed performance last week as it steadily lost ground against the EUR and GBP-breaching the critical $1.50 level versus the former-while recouping previous losses vis-à-vis the JPY and CAD. The undulating dollar was whipsawed by risk sentiment, and the continuing carry trade phenomenon in which investors borrow in the low yielding USD to fund their investments in other higher-yielding currencies and assets.