Dollar Climbs as Safety Demand Rises on Markets
Saturday, July 4th, 2009
The dollar ended this week posting gains versus all 6 major currencies, as another wave of pessimism caused by grim reports in U.S. and U.K. spurred demand for the safety of the greenback.
The Australian dollar, often referred as the Aussie, fell for the first time in 5 days against the U.S. dollar and other currencies after China’s comments indicating that the greenback will continue to be the main world reserve currency, damping demand for the Australian dollar high-yielding profile.
The New Zealand dollar rose for the fourth straight day against its U.S. counterpart and advanced for the second day versus the Australian dollar today, assisted by the signs of the global recession’s easing.