NEW YORK (TheStreet) -- The U.S. dollar was mostly stronger Wednesday as risk appetite fatigues, while CHF and JPY advance in choppy markets.
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A mixed flow of news is creating some choppy action in the majors, leaving the Swiss franc on balance stronger while Asian/commodity majors were trading heavy.
The early session rumors of possible early elections in Greece have kept the pressure on the euro. However, official buying interest ahead of $1.40 has channeled the liquidation of euro longs towards the crosses with EUR/SEK and EUR/NOK pushing towards the turn-of-the-week lows of 8.90 and 7.826,respectively.
European Central Bank's Jurgen Stark's comment that the bank stands ready to raise interest rates again if needed and local press reports announcing that German banks have passed their stress tests helped spark a temporary short squeeze in the euro to the $1.410 area and towards 116 versus the yen, but there has been little private flow follow-through on official demand in a generally cautious market risk environment.
Against this backdrop, stocks were down in both Asia and Europe, with the Euro Stoxx 600 making fresh one-month lows, although it found support near its 200-day movng average.
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