KUALA LUMPUR, Dec 31 (Bernama) — The ringgit is expected to remain uncertain against the US dollar in the first trading week of the New Year as investors look ahead for fresh leads against the backdrop of the eurozone debt crisis, dealers said.
Developing themes in the world economy are expected to drive price action in 2012, but doing your homework and having a good set of rules will be key to trading the news.
Bearish continuation patterns in Yen crosses give scope to sharp declines to begin 2012.
The greenback tumbled lower ahead of the New Year, with the Dow Jones-FXCM U.S. Dollar index slipping to a low of 9,924, but the recent weakness is likely to be short-lived as the fundamental outlook for the world’s largest economy improves.
NEW YORK, Dec 30 (Reuters) – The dollar’s share ofknown global currency reserves rose in the third quarter of 2011while the euro lost ground, according to International MonetaryFund data released on Friday. …
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