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The euro posted the unexpectedly strong gains today despite speculations about possible default of Greece and spreading of the sovereign-debt crisis continue to plague markets. The reason for such surprising performance was anticipation of another interest rates hike by the European Central Bank.

This week has started with market sentiment turning to risk aversion mood and such sentiment may remain for the rest of the week. This can be both positive and negative for the US currency. We were seeing some time optimistic mood on markets for some time as the global economy was recovering from

The Japanese yen rose today after Standard & Poor’s said yesterday that the US top credit rating isn’t certain and as concerns about the debt of the European countries drove investors to the safety of the Japanese currency. The Greek bond yields jumped to the highest level since the euro was

The same problems of the US and Europe’s economies that spurred demand for safety caused the Australian dollar to drop today for the second day. Currently demand for safer assets prevails on markets, reducing appeal of currencies linked to growth, including the Australian dollar. Otto Fricke, m