Dollar Advances on Stocks Weak Performance
The dollar gained versus most of the 16 main traded currencies today as speculations surged that current levels for stocks are not backed by fundamental evidences, forcing equities down and bringing investors to purchase Treasury bonds to protect their portfolios.
Refuge currencies had the best performance today as most equities markets in Asia and Europe tumbled, attracting traders to inject capital towards safety, providing support for the greenback and the yen to extend gains from yesterday. Despite the dollar’s good performance versus most
As the year is ending a number of traders are repatriating assets and giving up, to some extent, riskier investments, favoring the U.S. dollar who had a rather positive week compared to the previous ones, where risk appetite was dominant most of the time. There is a significant chance that the greenback will be trading around $1.50 versus the euro until the end of the year.
EUR/USD traded at 1.4847 as of 17:52 GMT from a previous price of 1.4912. USD/JPY traded at 88.99 from almost the same rate in the intraday.
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Earlier News About the US Dollar:
- Dollar Down on Interest Rates Speculations (2009-11-18)
- Dollar Rises on Low Optimism Session (2009-11-17)
- Japan Growth Force Greenback Down (2009-11-16)
- Dollar Down After Significant Rally (2009-11-13)
- Dollar to Fall in 2010 on Record Low Interest Rates (2009-11-11)