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Daily Video Recap: Dollar Softens as Risk Appetite Returns on Euro Data & Equities
Written by article default Friday, 29 October 2010 06:32
The US Dollar slid today to the Euro and higher yielders as risk appetite returned to currency markets. The euro-zone’s gauge of overall economic sentiment rose to a 34-month high and positive earnings reports from European blue-chip companies added steam to the rally. Euro-zone fundamentals are brightening which places the ECB at odds with the Fed’s QE story - which is acting as a weight around the US Dollar.