In the absence of major economic events, the dollar traded unchanged or lower than most G10 counterparts this morning Friday. Weakened against the NOK, SEK, AUD and CAD in this order, while appreciated versus the JPY. The dollar was unchanged against the CAD, CHF, GBP and EUR.
The Gold followed a similar pattern to the Yen as a 'safe-haven' asset. The precious metal rose about 1.70% after the news of the plane crash in Malaysia but lost some of its gains as the uncertainty of events weakened. The trend of commodity confirmed my opinion that some of the risk off trades that were made yesterday were likely to be reversed.