Tuesday, 11 August 2015

XE Market Analysis: North America - Aug 11, 2015

The dollar was mixed, trading lower against the euro, which outperformed on news that Greece had reached firm agreement on a bailout deal with its creditors, while making gains against the yen, Aussie dollar, and other Asian currencies, which underperformed after China unexpected devalued the yuan by almost 2%. EUR-CHF stood out for its usual bout of volatility, rallying strongly to a new high at 1.0866, the best level seen since the SNB abandoned the 1.2000 floor in January. The significant reduction on Grexit risk has been a fundamental factor weighing on the franc.



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