Wednesday, October 14, 2009
14-Month Low for the Dollar
The USD reached its 14-month low versus the EUR as investors choose higher yielding assets for trading abandoning dollars. On Tuesday the EUR/USD reached the top of $1.4828 and ended trades at $1.4786. The last time when these results were seen was August 2008. Gold seems to be the most attractive asset for trading.
The investors looking for high yield ignored pessimistic Euro-Zone economic data to ensure the better-returning Euro to $1.50. It seems that this level will be attained shortly.
The greenback may drop even more today before the government reports its forecast to deliver consumer prices rose last month. This report is one the most important economic events for today.
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