“The dollar tumbled to its lowest level in nearly a year as investors fled a safe haven for riskier assets and worried that the U.S. economy could be a laggard in the global recovery.
The decline was broad, with the dollar falling against most major currencies, and dropping 1.1% against the euro.
As the dollar fell, investors bought up gold, which briefly crossed $1,000 an ounce, and other commodities. The dollar, down 3.7% against the euro this year, is now trading where it was before investors rushed into the U.S. currency to escape global market turmoil after Lehman Brothers collapsed.”
[Via WS]
[Pic Source FS]
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