Daily Forex Commentary for September 17, 2009

September 17, 2009

Dollar Still Lower – Euro Higher on the Year

The U.S. Dollar closed lower against most major currencies this afternoon as investor demand for higher yields drove up risky assets. The strong rally continued in the equity markets boosted by yesterday’s favorable comments from Fed Chairman Bernanke and today’s positive words from investor Warren Buffett. Gold also surged to the upside on the prospect of a long-term weaker Dollar.

Despite economic reports showing that the U.S. economy is recovering at a faster pace than the Euro Zone, investors …
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