There isn't too much conviction in the market today to trade the dollar in an aggressive fashion.
More Quotes from Alex Beuzelin:
Traders are marking time ahead of the G7 finance ministers meeting on Friday. I think there is still a significant amount of event risk and that is tending to temper the dollar's movement,Alex Beuzelin
The familiar combination of declining fundamentals and the market's perception that Tokyo wants to see a weaker yen was the catalyst for the Japanese currency's latest move down,
Alex Beuzelin
With a lack of any key economic news, once again the direction of the dollar is linked to the volatility on Wall Street.
Alex Beuzelin
Fed speakers have been on message, and the belief is that U. S. yields will continue to improve relative to Europe, the UK and Japan, and that will continue to underpin the dollar,
Alex Beuzelin
Since there was no expression of concern at the yen's strength, traders interpreted this as a green light to resume their yen buying,
Alex Beuzelin
Deteriorating market sentiment for the U.S. economy and yesterday's less-than-ringing endorsement of the strong dollar policy by Treasury Secretary Paul O'Neill fueled the dollar's latest losses,
Alex Beuzelin
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