Dollar Advances, Yen drop
By admin on August 7th, 2009
The dollar advanced against the currencies of six major U.S. trading partners as a government report showed employers eliminated fewer jobs in July than economists forecast.
The yen dropped against all of its major counterparts as the payroll report indicated a recovery in the world’s largest economy, encouraging Japanese investors to buy higher-yielding assets overseas.
The dollar climbed 0.4 percent to $1.4283 per euro at 9:45 a.m. in New York, from $1.4345 yesterday. The U.S. currency gained 1.4 percent to 96.78 yen from 95.46. The euro advanced 1.3 percent to 138.25 yen from 136.94.
Futures on the Chicago Board of Trade indicated a 74 percent chance that the Fed will increase the target lending rate from its range of zero to 0.25 percent by its January meeting, compared with 66 percent odds a month ago.
danny
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hot trader
After the US retail sales came in better than expected in August, the dollar started to regain the ground it had lost before, it was a dark time for the safe heaven. I don’t mean it is recovered! Just that it’s on a better track
http://files.ac-markets.com/Newsletter/2009-09-15/AlertChart15Sep09_1509.JPG
This chart of the USD (from Ac-markets web site) shows what I was talking about…
Regards!
Fapturbo
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