Financial Crash
Financial Crash
Out of context: Reply #73
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- TheBlueOne0
" Dollar weakness intensified in continued reaction to comments from Saudi Arabia's Central Bank Governor Hamad Saud al-Sayyari who told Reuters on Wednesday that the bank would hold back from matching a U.S. interest rate cut.
"The news gives another justification to sell the dollar and it comes at a time of negative dollar sentiment," said Niels Christensen, FX strategist at Nordea in Copenhagen.
The move could herald further weakness as it shows that the dollar's status as a reserve currency is in question, analysts said. "This could lead to lack of confidence on the dollar as its role as a reserve currency is being put into question, which is also supporting the euro."