The U.S. dollar continues to be all over the place against currencies, but continues to weaken against the majors. In Latin America it did find some strength today, as it gained against a number of currencies from south of the border.
Here's some links to major currency stories today:
Forex - US Dollar Edges Higher Versus Latin American Currencies
The US dollar was relatively strong against its Latin American counterparts on Tuesday's New York deals. The dollar recovered from an initial pull back against the Latin American majors during afternoon deals today.
If you want to know where commodity prices are going, you can dive down the rabbit hole of raw-materials supply and demand, trying to figure out everything from how the weather in Saskatchewan will affect wheat crops to what the surging Indian economy will do to demand for gold.
Or, you can just watch the currency market.
The central bank, Bangko Sentral ng Pilipinas (BSP), has built up a record $13-billion stock of foreign exchange outside its official foreign reserves as of end-January, up $2.3 billion from the end-December level, according to its official data.
Mexico's peso softened against the dollar Tuesday as local stocks fell on profit taking following big gains the previous session.
The peso was quoted in Mexico City as closing at MXN10.7230, compared with MXN10.6940 at the opening and MXN10.7075 at Monday's close.
The yen rose on Tuesday as weaker global equities encouraged investors to unwind carry trades, while the euro paused against the dollar after European officials voiced concerns about its latest rally.
The dollar slipped against the euro Tuesday in the face of fresh inflation fears in the eurozone and a call by the US Federal Reserve chief for tough action to stem US mortgage foreclosures.
The euro edged higher against the dollar as the US currency's recovery overnight began to lose momentum.
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