Daily FNArena News - Currencies

CIBC sees possible further gains for the US dollar, limited upside for commodity currencies and the euro and further strength in the yen.

Market analysts at FXCM suggest the Australian dollar is showing signs of topping out against the US dollar, making a retracement possible.

Commonwealth Bank now expects longer-lasting recessions in both the UK and Europe and has adjusted foreign exchange assumptions to reflect this view.

St George Bank suggests shorter-term risks for the Australian dollar remain weighted to the downside and forecasts a year-end rate against the US dollar of just above parity.

Forex.com’s Kathleen Brooks explains why the euro has become the new funding currency for the world.

Commonwealth Bank chief currency strategist Richard Grace sees the AUD pushing to 1.05 by year’s end and he has a list of reasons why.

In recent years the Australian dollar has demonstrated new found resilience and Westpac offers some perspectives on why this has occured and the implications.

Market analysts at FXCM note resistance for the Australian dollar at US98c was defended and the trend for the currency remains down.

Analysts have revised forex market expectations with The US dollar and yen among the winners while estimates for the Australian and New Zealand dollars have been lowered.

Market analysts at FXCM suggest Aussie lows are testing the trendline that extends from May 2010 to October 2011.