Daily Forex Commentary April 5, 2010

April 5, 2010

Better than Expected Economic Reports Fail to Support U.S. Dollar

The U.S. Dollar opened down and remained lower against most major Forex markets as traders seemed to reassess Friday’s employment report while brushing aside today’s jump
in ISM Non-Manufacturing and the unexpected surge in pending home sales. Instead of supporting the Dollar because of its traditional relationship with the economy, investors instead took interest in
stocks and Dollar-denominated commodities.

Some traders blamed the Treasury’s decision to postpone a …

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