In the forex markets the British pound was a bad performar. It looks vulnerable to a severe drop if the dollar selling continues, and it looks like the US governement is thinking that its implicit weak dollar policy is working. On the other hand the Australian dollar, a commodity currency, continue to strengh fueled by RBA last week interest rate hike. Even if it looks over extended the interest rate hike may push it further.
The Japanese yen seems to be trading beyond fundamentals and the Bank of Japan suggested it would intervene if the exchange rate move unfavorably, and last week was the only currency gaining to the dollar. Funny enough the gold/dollar story that has everybody in a frenzy now has not reach WTI participants.
Well it was just another week of global markets for participants, maybe with investors of WTI motre optimistic.
