Forex: Euro gains, the dollar loses
Thursday, 17 July 2008
On the eve of weekend, the dollar appears close to its lowest levels in the foreign exchange market, particularly given the yen and the single European currency. The Fed has indeed failed to convince her to leave interest rates unchanged. In addition to the uncertainty it leaves voluntarily hover over its monetary policy ahead, the Fed is most exit weakened and impotent because of his inability to fight on both the field of growth and inflation. The dollar has also suffered from declining stock markets. Indeed, the financial actions have collapsed, especially those of General Motors, which lost more than 10%. The decline in notes of General Motors and Chrysler by the credit rating agency Fitch credit and the continuing rise in the price of a barrel of oil at more than $ 140 have caused collateral damage, including the exchange rate on dollar Forex. The decline in the dollar has clearly served the single European currency that retains its lead in the foreign exchange market despite the decline in economic confidence index for the month of June which reached its lowest level since May 2005. The crisis affecting the stock market and the current climate on the foreign exchange market were mainly promoted yesterday and today the yen and Swiss franc on the screen facing up the U.S. currency.
Labels: forex
posted by Master @ 03:18,