Currency watch Dollar bounces back Dollar bounces back |
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| Written by Rational FX | |
| Wednesday, 23 July 2008 | |
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The USD came under selling pressure early in the European markets as stocks turned negative and Wachovia bank reported record losses, the fourth largest US bank failed to meet market forecast.
However, the Dollar bounced back later on hawkish comments made by Henry Paulson, also pulling the dollar back was a further pull back in Oil and Gold as Hurricane Dolly looked to miss the Gulf production Areas. The Euro fell sharply as hawkish comments from the US triggered dollar buying as falling oil and general concerns over the state of the European economy .Overall the EUR/USD traded with a low of 1.5758 and a high of 1.5945 against the USD. The GPB had a Hawkish outlook in the early market trading hours, but fell sharply inline with our European counter parts as Paulson spoke in the US which helped the USD Break back through down from the key 2 dollar to the 1.9950 mark. BOE governor Mervyn King spoke Before MPs last night but made no mentions of monetary policy. Overall the GPB/USD traded with a low 1.9898 and a high of 2.0075. BOOKMARK THIS PAGE (What is this?) |
- Euro weakened and Dollar strengthened this week 01/08/2008
- Positive day for the Dollar 31/07/2008
- Dollar and stock market weakened 29/07/2008
- Euro and Pound weaken 25/07/2008
- Euro continues to slide against the Dollar 24/07/2008
- Hurricane Dolly drops the Dollar 22/07/2008
- Oil price lowers and Dollar slightly stronger 21/07/2008
- Dollar gains ground over good data 17/07/2008
- Dollar dropped against all majors 16/07/2008
- Dollar saw sharp drop over mortgage lenders news 14/07/2008
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