Online Forex Trading News – November 10, 2009
ByDollar remains low for the last 15 months
The pound falls alongside the weak dollar. And Euro is struggling to hold its place.
The dollar rose roughly on Tuesday from a 15-month low status as investors saw Monday’s fall as too far and very quick.
On the other hand, Sterling was one of the big movers in today’s forex trading.
The Dollar currency is performing low, and it fell around 1% to a low of 74.93, and this is the weakest in forex trading since 2008.
As for the EURO it went down also 0.2 % to 1.4970.
Since the US interest rates are staying near zero, and therefore the investors are happy to invest more in currencies and forex trading and use the dollar to fund their way through and carry trades in assets.
As for the GBP, the UK pound, it also slipped down to 1.66$ and fell to beyond 90.00 pence per euro.
As for the Yen, it remained 0.4 percent lower at 134.39. The dollar edged down 0.3 percent to 89.79 yen JPY.