Base metals are up suggesting there are good prospects for global growth. The risk of higher inflation from higher oil prices is pushing up gold.
More Quotes from Robert Rennie:
The dollar does feel as if it's gone a very long way against the euro and in a very short time.Robert Rennie
Markets always price for the worse, then row back when it doesn't happen, ... In this case, as soon as Rita was downgraded, the dollar jumped in a relief rally. It's as simple as that.
Robert Rennie
Underlying interest rates still remain very supportive for the U.S. dollar.
Robert Rennie
The further that the Fed takes fed funds and the front end of the curve, the more attractive US-dollar-denominated debt will become to Japanese retail investors.
Robert Rennie
The yen is weakening so much versus other currencies. The pace of decline of the yen is causing stress and strain within Asia, where central banks may be showing some concern.
Robert Rennie
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