As it was informed by "Market Leader (US)"
US Dollar is in flat range: why do precious metals keep gaining in value?
FOREX NEWS. The US Dollar has managed to maintain its position against all the other major currencies. However it is still vulnerable as it keeps moving within a price range around the lows. Last week’s US economic data imply that the US economy will probably continue recovering.
The new data on the Euro-zone debt situation only added pressure on the common Euro currency against the other majors, which didn’t allow EURUSD to break above 1.45. USDJPy was the only currency pair where USD showed some strength. Moreover, the weakness of USDJPY reveals the weakness of JPY-cross pairs.
The recurrence of the Euro-zone debt issue will make the financial market uncertain because either restructuring or default will cause losses in the EU’s financial sector, where banks are the main sovereign debt holders. It is too early to speak about some restructuring or default within the next few weeks. However if the future succession of events develops this way, investors will definitely be seriously concerned about that. It also should be noted that this is the pre-Easter week, so numerous market participants will probably take a break, which may lower the liquidity and increase the volatility of the market.