Good News, Dollar Down
July 20th, 2009
| Category: Economy
Investors pulled their money out of the safe-haven dollar and bought some commodities Monday, as the market’s capricious compass pointed in an optimistic direction.Kevin Chau, a foreign exchange strategist at IDEAglobal, said the potential survival of CIT Group aided the atmosphere. (See “CIT Deal Lifts Street.”) The greenback fell against a basket of currencies, as traders were exchanged euros for $1.42 and British pounds for $1.65, while metals like gold rose 1.3…
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