ASIAN currencies with a strong upward bias – especially the Aussie dollar– and the Swiss franc which, like gold, has become a safe haven amid economic uncertainty, are the current themes on the forex market.
On Oct 15, the exchange rate for AUD/USD broke through parity for the first time since the Aussie was freely floated in 1983. The Aussie has had a remarkable year so far, having made the second-biggest advance this year – after the yen – among the world’s 16 most-traded currencies.
QE2 is almost a “done deal” when the Fed meets in November, believes Mario Singh, director, Training & Education at FXPRIMUS.com. He tells CNBC’s Christine Tan, Anna Edwards and Yousef Gamal El-Din, why he believes the dollar is set to weaken further.
CNBC, 3 Oct 2010: Stiglitz Is Wrong on Euro: Analyst
Mario Singh, director, training & education FXPRIMUS.com, disagrees with pessimistic comments from economist Joseph Stiglitz that the euro is looks bleak. He tells CNBC’s Karen Tso and Sri Jegarajah why.