The market is disappointed the ECB is not doing more on the interest rate front to support its currency.
More Quotes from Andrew Busch:
The dollar's weakness stems from many factors. The China news is one of them, ... It is great electioneering rhetoric, but the import quotas will not stem the tide of Chinese textile imports... nor any other imports from China.Andrew Busch
If you take the two together, you didn't miss by much. Initially, there was a little bit of dollar selling then it was bought back.
Andrew Busch
The comments coming from the Fed are focused on inflation and have put a rate increase in March back on the table. That will support the dollar.
Andrew Busch
The Canadian dollar has been supported by a lot of positives this year as prices of oil, gas and gold rose. Bank of Canada has raised rates that also boosted demand for the currency.
Andrew Busch
We're seeing volatility in the energy markets and commodity markets with gold being part of that that's hurting Canada.
Andrew Busch
People are coming to the realization there is a very high likelihood that the BOJ next week are going to stop quantitative easing or begin to unwind it, and there is a lot of market focus on Japan CPI data later this week.
Andrew Busch
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