SubscribeDaily Forex Commentary for March 16, 2009
March 15th, 2009 • Related • Filed Under
March 16, 2009
Desire for Higher Yielding Assets Drives U.S. Dollar Down
The U.S. Dollar lost much of its luster as a safe haven asset last week as the strong rally in the stock market whet trader desire for more risky, higher yielding assets. Commodity-based currencies were big gainers this week as they benefitted from both the rally in equities and the stronger commodity markets.
The Euro was a big gainer last week against the U.S. Dollar. Much of the move was most likely short-covering because there was no bullish …
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