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Sunday, June 28, 2009

Forex News Jun 28,2009

Dollar Declines on China Alternative Reseve Currency Demand
The Dollar ended the week losing against several major currencies after China declared this Friday that a supranational currency should be created for regulating international trade, damping demand for the greenback, which is currently the world main reserved currency. it means it is an international currency.

Pound Rebounds as Risk Appetite Drive Investors to British Assets

The British pound had a day of gains versus the euro and the dollar as a new wave of risk appetite struck markets today, influencing investors to purchase assets in British stocks, weighing positively on the National currency.

Dollar Drops on Interest Rate Outlook

The U.S. dollar had a weak performance today losing against most of the major traded currencies, as stocks rose for a third day, mainly in Asia, damping demand for the greenback.

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