Whether last week's corrective fall in the Euro and Aussie has some more way to go or not is the big question facing the market this week. Chances are even either way.
News of CIT filing for Chapter 11 bankruptcy saw the Dollar gain further in early morning trade today. It has retreated a bit since then. The Euro (1.4752) has recovered a bit after seeing an early morning dip below 1.47, to a low near 1.4684. The Aussie (0.9020) too has bounced a bit from an early morning low near 0.8950. Dollar-Yen (89.94) has rallied from a low near 89.42 to almost 90 now. The Pound (1.6443) continues to be mixed. Dollar-Swiss (1.0231) has come off from a high near 1.0289 and may gain further towards 1.02 today.
In Asia, the Sing Dollar trades relatively strong near 1.40 and has chances of gaining further. The Korean Won (1185) is also relatively strong compared to the weakness it has seen last week. Dollar-Rupee is closed for Nanak Jayanti today. It had closed near 46.96/97 on Friday.
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