SubscribeDaily Forex Commentary for September 10, 2009
September 10th, 2009 • Related • Filed Under
September 10, 2009
Dollar Loses More Ground as Beige Book Signals Possible End to Recession
The U.S. Dollar tried to regain some strength late in the trading session following the release of the Fed’s Beige Book, but major buyers were noticeably absent driving the Dollar down into the close. Record low borrowing costs are contributing to the weakness in the Dollar and the strength in higher yielding assets. Investors have been selling the Dollar to fund their appetite for risk. The U.S. Dollar is currently the cheapest funding currency.
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