Commodity Currencies Could Be Turning Lower
The New Zealand dollar appears to be leading the way where other commodity currencies will follow - downwards. This week's fall in the New Zealand dollar may well have been triggered by comments from the Reserve Bank of New Zealand. But, with crude prices falling, the U.S. Federal Reserve apparently keen to curb the recent rally in commodity prices and with risk aversion once again on the rise, a more widespread switch out of commodity currencies could be underway. This will contrast with the support the Euro is likely to receive after European Central Bank President Jean-Claude Trichet hinted that Euro-Zone Interest Rates could rise as early as next month.
Subscribe to:
Post Comments (Atom)
Posts
No comments:
Post a Comment