Tuesday, June 16, 2009

No Impact on Currency Market Yet

The dollar cannot extend its Monday level in overnight trading also worked against the currency The investors who were reassured by comments reinforcing the dollar's status on Monday concentrated on the issue as the summit meeting of Brazil, Russia, India and China unfolded.

According to late morning press reports, the leaders of those BRIC economies called for a "more diversified" global currency system. Earlier, a Kremlin economic aide had said that Russian President Dmitry Medvedev "will raise the reserve currency issue," prompting the euro to climb against the dollar. The euro pushed briefly to a session high at $1.3934 after U.S. economic releases but the data did not make a marked impact on currency markets.

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