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Risk Aversion rules…so far today!
By Sean Hyman | June 22, 2009
The theme of the day today so far is “risk aversion”. The dollar is doing quite well, especially against the emerging market currencies (South African rand, Turkish lira, etc.). Also, a pair that tends to do good when the financial markets to bad (GBP/AUD) is towards the top of the list too.However, USD/CAD beats them all this morning…up 1.5% on the day so far. Traders could be looking for a correction in oil since it’s traveled so far, so fast. Oil is at $68.25 as of this writing…down from a peak of around $73 so far, yet still far off of the $33 lows.
Tags: AUD, cad, currencies, dollar, dow, financial, gbp, Hyman, IRA, market, oil, pair, Sean, Sean Hyman, trade, trader, USD
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