Monday, September 12, 2011

Commodities Bounce Back as Japanese Sell Off Euro Overnight

Reuters is reporting that the dollar came off it's seven month highs against major currencies after Japanese exporters were detected selling it. Falling 0.7 percent to 77.07, helping lift dollar denominated commodities such as gold, copper and crude oil.

The euro held firm on Tuesday morning after a choppy session overnight saw a wave of short covering lift it by more than two cents on hopes that China will bolster Italy by buying its bonds, but traders found few reasons to stay upbeat about the currency.

Read the entire Reuters article.

No comments: