The dollar surges to its highest level in seven months on a trade-weighted basis as worries over fiscal problems in Europe boost haven demand for the US currency

The collapse in risk sentiment over the past 24 hours has been triggered by seemingly innocuous events, with most news agencies pointing to concerns of sovereign debt woes in Spain and Portugal adding to the well-publicized situation in Greece. Others have also highlighted yesterday’s disappointingly high US claims figures which have certainly knocked optimism for today’s non-farm payrolls. But…

US employment report is mixed to slightly positive, but is the market even focusing on data at the moment? If risk does manage to rally, will be interesting to watch the USD’s behavior. If we…

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