Asian Session - Crude’s Surge Hurts Usd

G10 Advancers and Decliners vs USD

EUR
-0.27

CHF
-0.53

JPY
-0.79

GBP
-0.94

The Usd continued to decline in the Asian session as worries over the US financial markets and surging crude prices weighed on the Dollar sentiment. The EurUsd climbed to the 1.4900 levels, before retracing slightly to 1.4876, while the UsdJpy declined and is now trading at 108.90. Crude rose across the board, with wti moving up $5.00, above $120.00bll. With concerns of a production cut swirling…

Original post by Peter Rosenstreich

This entry was posted on Friday, August 22nd, 2008 at 6:08 am and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.