Commodity currencies lead the charge against the US dollar

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Commodity currencies lead the charge against the US dollar

<p>Goldman Sachs chief economist Jan Hatzius was just on CNBC and arguing that the jobs report tilted dovish and that there will be a lively debate at the Sept 21 Fed. That's reflected in falling 2-year yields and a softening dollar.</p><p>The risk mood is improving rapidly and the S&P 500 is now flirting with 4015, which would trace a nice three-candle reversal on the daily chart. The US dollar has been treading water against the euro and yen but commodity currencies are strengthening.</p><p>AUD and NZD have wiped out the past two days of declines with 0.9% gains. The loonie touched 1.32 yesterday but couldn't break the July high yesterday and has now turned to test Wednesday's low with the help of rebounding oil prices.</p>

This article was written by Adam Button at www.forexlive.com.

Source: Commodity currencies lead the charge against the US dollar

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