After the elections in Greece, most of the analysts expected a negative start of the week but finally, most of the indices and the euro climbed on Monday amid speculation the victorious Syriza party will pursue its anty-austerity agenda without forcing an exit from the currency bloc. The common currency advanced 0.9% to 133.12 yen and a sharp 3% against the Swiss franc to 1.0151. The Russian ruble closed at the weakest level on record after Standard & Poor’s cut the nation’s credit rating to junk. The dollar gained versus the yen with the Federal Reserve forecast to raise interest rates this year. It is obvious that the EU and Japanese economies are not in the same stage as the US economy which recovery is clearly ahead and this is reflected in the markets where the greenback has appreciate against the euro almost 20% in the last 8 months. This weakness of the euro has been especially evident in the last weeks, once lost the important support of 1.2050. Brazil’s real and China Yuan also dropped. Three-month implied volatility on the euro against the dollar was at 11.69%, compared with an average of 6.81% during the last 12 months. On the other hand, many of the wealthiest families in Asia are being force to leave the AUD dollar as a consequence of record-low yields and sustained declines persuade them to look elsewhere, especially nowadays that the Federal Reserve discussed raising interest rates. In the last six months the AUD has tumbled 16% to the weakest level since 2009 and Reserve bank of Australia has said he expects it to extend declines
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