Market tension continues strongly into 2012 as European debt, US fiscal health, Chinese growth and geo-political tensions in the Middle-East lead the market themes
The EUR directed focus last week but it was the high-beta currencies that were the weakest performers overnight after Sunday’s market open
Over the past six weeks USD is higher against the Euro and down against JPY, but it has fallen against the higher yielding commodity currencies
This week’s macro calendar centres more on Europe and China than the US