SubscribeDaily Forex Commentary for October 27, 2009
October 26th, 2009 • Related • Filed Under
October 27, 2009
U.S. Dollar Soars as Equity Markets Get Hammered
The U.S. Dollar soared on Monday as weakness in the stock market triggered a flight to safety rally. As the stock market declined, traders dumped higher yielding currencies and sought safety in the lower yielding U.S. Dollar.
Stocks initially had a huge rally to the upside, sending the Dollar sharply lower. At about the mid-session equity markets began to weaken following the posting of an erroneous headline stating that Congress would let the first time home buyer tax credit expire …
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[...] News Sources wrote an interesting post today onHere’s a quick excerptOctober 27, 2009 U.S. Dollar Soars as Equity Markets Get Hammered The U.S. Dollar soared on Monday as weakness in the stock market triggered a… [...]