Daily Forex Commentary for June 12, 2009

June 11th, 2009 • Related • Filed Under




June 12, 2009

U.S. Dollar Falters as Traders Desire Higher Yielding Assets

The desire for higher yielding assets led traders to buy the EUR USD on Thursday. Positive economic data and signs that the U.S. economy improved helped drive investors out of the safety of the Dollar.

Better U.S. economic data and the steady rise in crude oil prices should continue to encourage selling pressure against the Dollar. The only strength in the Dollar we saw this week was following the announcement that Russia would cut its purchases of U.S. Treasuries. …
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