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FXstreet.com (Barcelona) - Kit Juckes, Global Head of Currency Strategy at Societe Generale feels that the strength of recent US Q4 earnings announcements, which have have helped propel the S&P ever-higher despite RSI levels that concern him, has kept the global risk rally going.

He notes that the Kiwi's inability to benefit reflects concern that sexy currencies like AUD, NZD, KRW, MXN & CAD have all rallied so far against USD that policy makers will at least try to slow them down by expressing concern at valuations. He writes, "The exception for now at least is the Euro. The ECB is doing nothing to talk down the currency and everything to send it higher."
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