The dollar's gains this morning extend to emerging-market currencies as headlines that include Merkel again rejecting a joint euro-zone bond issuance keep risk-takers on edge. The momentum has turned against currencies like the Brazilian real and Indian rupee as they break past key technical and psychological levels, says Richard Ross of Auerbach Grayson. The dollar is gaining broadly, and is up 1.4% at BRL1.768, according to CQG. The Brazilian currency is taking a hit as its central bank eased conditions on consumer credit amid economic-weakness concerns.
