Dollar rally continues- Euro feels the pressure
Disclaimer: THIS MATERIAL IS NOT INVESTMENT RESEARCH AS DEFINED BY THE FINANCIAL SERVICES AUTHORITY
The dollar continues to rally pushing the EUR/USD below 1.50. The weakening of the Euro has also had a knock-on-effect against Sterling, the pound hit a 3 month high against the single currency. The greenback posted a new high on the year against the pound. Traders are expecting to see a clearer indication whether or not the dollar has broke free from its down trend by the end of this week, having said that it is clear from the price action that investors are already positioning themselves backing rumours that it is likely that the US dollar will be the first major currency to get through the financial downturn.
Monday 11 August 2008, 11:13am
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