real-time news and commentary for investors
Thursday, Aug 15
Dollar gets no flight to safety bid
- Rising rates, the decline in stocks, and escalating violence in Egypt provided no bid for the greenback which fell across the board today.
- The dollar (UUP -0.7%) lost more than 1% against the Swiss franc (FXF +1%) and nearly 1% vs. the yen (FXY +0.8%) and cable (FXB +0.9%). The euro (FXE +0.7%) gained nearly three quarters of one percent.
- Typically the first to sell off when markets get a bit panicky, even the loonie (FXC +0.2%) and the aussie (FXA) picked up ground against the U.S. unit.
- A reason? Maybe the commodity sector (DBC +1%) - it was notably strong with metals, energy, and the grains all higher.
- Related dollar ETFs: UUPT, UDN, UDNT.
- Broad commodity ETFs: DJP, GSP, LSC, RJI, GSC, GCC, GSG, DBC, DPU, DJCI, UCI, USCI, DYY, UCD, DEE, CMD, DDP, RGRC, CTF, CFD CSCR, CSCB.