Welcome back from July 4th weekend. Hope you enjoyed the barbecue. By the way, have you noticed the economy is collapsing?
That, at least, is the sentiment driving a lot of market moves on Monday, including currencies. Varying reports are offering that investors, skittish about the economic recovery, sent demand for the yen and dollar soaring against most of the majors. Typically, the two currencies act as safe havens for most investors when risk appetite goes down the drain.
But the dollar certainly wasn't helped by renewed calls that the greenback may not be the best star to hitch the international economic wagon to. Reports say China is interested in making discussion about the greenback's role as the globe's reserve currency a topic at this week's G8 summit in Italy, while Russia and India have continued to question the dollar's status of late.
PowerShares DB US Dollar Index Bullish
was up 0.4%, while
PowerShares DB US Dollar Index Bearish
was losing 0.4% just after the open.
CurrencyShares British Pound Sterling
were each slipping 1.1% and 0.5%, respectively.
CurrencyShares Japanese Yen
was gaining 1.1% after the opening bell.
On the Multiplex front, thanks to the dollar's strengthening against the British pound, London is the place to catch, say,
Not quite as terrible as everyone says it is!
With that, here are the latest numbers since our last update...
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