SubscribeDaily Forex Commentary for October 9, 2009
October 8th, 2009 • Related • Filed Under
October 9, 2009
Optimism over Global Economic Recovery Sinks U.S. Dollar
The U.S. Dollar finished sharply lower. The Dollar has closed down four out of the last five sessions. The strong rally in equity markets today drove up demand for higher yields as investors have become more optimistic about a global economic recovery.
As expected the European Central Bank left its benchmark interest rate unchanged at 1.0%. The ECB is optimistic about an economic recovery, but it may not be as smooth as desired. In addition the ECB expressed some concerns …
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