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Article: NBK Weekly Money Market Report.
- Article from:
- Albawaba.com
- Article date:
- November 2, 2009
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Summary: Greenback Finds Support
The weakening US dollar trend seen over the previous weeks lost its
United StatesGreenback Finds SupportThe weakening US dollar trend seen over the previous weeks lost its momentum this week. The US dollar was able to partially halt its losses against the major currencies. However, Thursday's GDP numbers showing growth in the American economy spurred a return of risk appetite, pushing the greenback lower and equities higher. Sterling pound traded narrowly around 1.6350 during the first days of the week before rallying back to a high of 1.6604 on Thursday after the US GDP figures; the Pound closed the week at 1.6452 on ...