Dollar rises, good GDP and low oil prices

Clever111 · #1 (**permalink**) 08-29-2008, 09:52 AM

Hi traders! After a sharp drop against the euro on Wednesday, the dollar rose as good GDP results and declining oil prices boosted commodity investor's spirits. Despite, Euro's fall against the dollar, the euro zone currency rose to a record high against the sterling yesterday, after investors worried about the health of the UK economy.

By midday in New York, the pound was down 0.3 per cent at £0.8048 against the euro. The pound also fell 0.2 per cent to $1.8288 against the dollar and lost 0.4 per cent to Y200.14 against the yen. In late afternoon trading, the euro was down 0.1 percent against the dollar on the day at $1.4702. Against the yen, the dollar was last at 109.46 yen.

Cheers!

Clever111

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