Corporate foreign exchange news
Dollar may see seasonal forex drop
Tuesday, 23 March 2010 09:30:26 GMT

Published by Jamie JemmesonThe dollar may peak this month before rolling back until June, a new 20-year seasonality report from Equityclock.com shows.According to the Financial Post, a series of political and economic events may give weight to the technical data this year, pushing the global reserve currency down against major competitors until mid-year.Among the factors that may hurt the dollar this week is an expected resolution to Greece's debt crisis, although concern lingers as to whether EU leaders will resolve to bail out the country, or whether it will be forced to turn cap-in-hand to the International Monetary Fund.Meanwhile, growing enmity between China and the US could also disrupt trade between the two powerhouse nations over the coming weeks, with Google's withdrawal from the country yesterday (March 22nd) bringing such concerns to the fore.Following an unresolved dispute concerning a highly sophisticated security breach thought to have originated from China, Google has redirected all traffic from its Chinese site to its Hong Kong homepage.For more information on foreign exchange treasury services and risk management, visit our Corporate FX site



