Commodity Currencies get the Blowtorch Treatment, FTSE Falls

AUDUSD was punished in Asia Tuesday 25 May as commodity-driven currencies get a thrashing.

The Wall Street Journal mentions the Euro could be an attractive funding currency for the carry trade going forward. The ECBs decision to buy goverment bonds of weak eurozone countries has increased doubts of the eurozone itself.

FTSE falls 3% in seconds over Korea tensions and Eurozone debt fears. Last week FTSE fell below the 5000 barrier.