Corporate foreign exchange news

Dollar optimism climbs amid forex hedging

Thursday, 11 February 2010 08:35:53 GMT

Published by Jamie Jemmeson
Foreign exchange brokers and traders are pushing the dollar to fresh highs, with optimism at its highest in 15 months, according to a Bloomberg poll.
Results from the survey revealed that confidence in the global reserve currency is climbing as concerns about the EU's nascent debt crisis linger.
Although there was speculation yesterday (February 10th) that EU leaders would push for a fiscal support package to prop up the Greek economy, a growing number of commentators are bracing themselves for an altogether less robust response.
Speaking to Bloomberg, German MEP Markus Ferber said French and German leaders are reluctant to commit to a full aid package and are likely to push for strict budget reforms to rein in Greece's burgeoning deficit.
However, Joerg Kramer, chief economist at Commerzbank, commented: "Help for Greece is obviously on the way. The EU seems bent on making sure that it reacts in time and not at the last minute."
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