By: Barbara Zigah
As reported at 2:53 p.m. (JST) in Tokyo, the U.S. dollar made gains across the board in today’s trading. Analysts are attributing the greenback’s rise to investor profit taking on riskier currencies, following the conclusion of the G8 meeting of finance ministers which was held this past weekend. The cautionary tone of the G8 policy makers has convinced investors that the worst of the global financial crisis is now behind us, as the G8 countries are now considering how best to pull back their respective exit procedures. Of note, though, is that the policymakers have given no indication that the major public stimulus plans will be withdrawn any time soon; policymakers indicated that there would need to be much clearer signs of an economic recovery before that step is taken. The U.S. Dollar Index, which measures the U.S. currency versus a basket of major currencies, gained .4%, to trade at 80.505 .DXY. In individual trading versus the Japanese Yen, the U.S. Dollar was down .1% to trade at 98.38 Yen. The Australian Dollar slipped .8% against the U.S. Dollar, trading at $0.8072, off an 8-month high trade of $0.8265 from early June 2009.
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Barbara Zigah
Barbara Zigah is a freelance journalist living in Ghana, who specializes in Forex-related content; her online work has appeared in the IB Times, NASDAQ, Benzinga, and Seeking Alpha.
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Live FX Rates
| Symbol | Change | High | Low |
|---|
| EUR/USD | 0.0081 | 1.2623 | 1.2562 |
|---|---|---|---|
| AUD/USD | 0.0108 | 0.9879 | 0.9799 |
| EUR/GBP | 0.0036 | 0.8036 | 0.801 |
| EUR/JPY | 0.34 | 100.21 | 99.81 |
| GBP/USD | 0.0037 | 1.5716 | 1.5678 |
| USD/CAD | -0.0052 | 1.0271 | 1.0238 |
| USD/CHF | -0.0049 | 0.957 | 0.9532 |
| USD/JPY | -0.28 | 79.73 | 79.35 |
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