Forex News and Events: The Dollar recorded its biggest monthly gain against a basket of currencies in more than 17 years on Friday, boosted by month-end demand and concerns about a deteriorating global economy. The Yen pared most of its gains against the Dollar, but traded sharply higher against the Euro as investors remained averse to risk after bleak US economic reports heightened global recession fears. The strength in the Dollar and the Yen came despite higher US equity prices on Friday.
Friday, December 25, 2009
Fund Managers Rebalancing Forex
Forex News and Events: The Dollar recorded its biggest monthly gain against a basket of currencies in more than 17 years on Friday, boosted by month-end demand and concerns about a deteriorating global economy. The Yen pared most of its gains against the Dollar, but traded sharply higher against the Euro as investors remained averse to risk after bleak US economic reports heightened global recession fears. The strength in the Dollar and the Yen came despite higher US equity prices on Friday.
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