A sharp rise in equity markets yesterday fueled risk taking, boosting riskier currency pairs. Poor economic data from the U.S. also helped to send the Dollar tumbling against the EUR and spiking against the JPY.
Economic Story:
1. USD - Dollar Tumbles versus the EUR
2. EUR - EUR Make Big Gains on Dollar, GBP
3. JPY - JPY Falls on Greater Risk Taking
4. OIL - Crude Rises on Equity Gains
Source: http://www.forexyard.com/en/market-analysis/eur_surges_against_the_usd_while_jpy_plummets_on_increased_risk_taking-2008-11-14
Saturday, November 15, 2008
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