The U.S. Dollar – Liquidity Crisis Continues
Investors continue to be concerned about the extent of the liquidity crisis and whether more financial institutions will fall victim to the credit crunch. Consequently, investors are beginning to move into safe haven currencies such as the Yen and the Swiss Franc, resulting in the
According to analysts the rapid fall in certain commodity prices is cushioning the fall of the U.S. dollar. Gold prices fell to $921 an ounce from its high of $1,012 an ounce. Oil, wheat, and base metal prices tumbled. It has been rumored that some Asian Central Banks, in their attempt to realign their foreign exchange portfolios, have been selling the U.S. Dollar.