Last week went relatively smoothly. On the foreign exchange market was observed in the major currency trading band operation pair-dollar selling against the background of profit fixation on previously open long positions and support "green" came from yield growth surge štatovskih "trežeris" and by the weak data on the European economy. This layout provides balance, making growth and decline of American currency relatively majors. However, according to results of the week the bucks recorded small losses against European currencies and the yen, as the market yield fluctuation of debentures United States escalated into a steady decline.
The US currency was hit after China's Central Bank has decided to set a record high rate of the Yuan against the dollar United States. This decision called into question the easing of monetary policy and provoked the fall of the dollar against major competitors. A lower rate of American currency usually leads to an increase in the price of gold because the metal makes a less expensive and more attractive for holders of other currencies. However, gold will probably be difficult to continue the dynamic consolidation by continuing concerns about global economic growth, lower inflation expectations and apprehensions regarding the demand by the world's largest consumer of gold to India and China.