Dollar opens the week on the high side

10:00 GMT

The market opened  Sunday night with continued dollar strength against major pairs like EURUSD, AUDUSD and NZDUSD.

However, the Dollar was weaker against the Yen as growing economic worriers and downside moves in stock markets reduced the appetite for risk taking investments around the globe – (and once more pushed investors back to the Yen).

This is a pretty obvious game, and a very recommended trading strategy during the crisis- sell yen (against dollar, AUD and more ) when global optimism is rising ( stock markets closing boldly on the green), buy the yen when pessimism is once more controlling the market.

The mood is changing pretty fast during times like this- only a week ago we opened the year with some market optimism -  when Barak Obama was talking about his financial plans- but now global markets have shifted momentum to the downside on growing economic worries-led by fundamental reasons such as Unemployment prospects in U.S.

Z.Georgi

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