Dollar Rises on Korean Conflict & Portugal’s Bailout Concerns
The US dollar advanced today as the concerns that the conflict between North and South Korea would escalate increased the demand for the currency as the safe haven.
The US aircraft carrier was sent as the show of strength after North Korea shelled this week the South Korean island. North Korea warned that any “escalated confrontation” would result in a war. The dollar also strengthened against the euro as the European Union’s leaders pressure Portugal to accept the bailout.
EUR/USD fell from 1.3362 to 1.3241 as of 12:36 GMT today after it reached the intraday low of 1.3200.
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Earlier News About the US Dollar:
- Dollar Strengthens as US GDP & Manufacturing Expands (2010-11-24)
- US Dollar Strengthens as Traders Believe in Quantitative Easing (2010-11-22)
- Dollar Falls as CPI & Housing Starts Decline, Jobless Claims May Rise (2010-11-17)
- Dollar Gains on Europe's Debt Concerns & US Retail Sales (2010-11-16)
- Dollar Gains vs. Euro & Yen as Treasuries Yield Increases (2010-11-10)