Forex Daily Digest's Blog – September 2009 Archive (22)

U.S. stocks fell sharply yesterday on fears of increasing U.S. bank failures and anxiety about the lasting strength of the recent equity rally, driving investors into the relative safety of bonds and the U.S. dollar.



The USD had a good day as a drop in stocks led investors to find the shelter of low-yielding currencies. The dollar index stood at 78.705, up from 78.001 in Asian trade and from 78.242 on Monday. The JPY held its own against the dollar, holding on to its gains from… Continue

The USD firmed up at the start of yesterday’s trading, as Chinese stocks increased worries about global growth and put pressure on stocks around the world. The USD normally serves as a safe haven, along with other low-yielding currencies such as the JPY.



The JPY increased to a 7-week high against the USD and gained versus other currencies yesterday buoyed by the decisive opposition victory in Japanese elections and as declines in global equities stoked risk aversion. The main… Continue