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Daily Forex Snapshot: 08-21-2008

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Forex - US Session-Dollar Slide Gives Way to a Rally in Oil

G10 Advancers and Decliners vs USD
The Usd declined in the early trading session due increased concerns regarding major institutions in the financial sector. The EurUsd rose 44 pips to the high 1.47 level, while the UsdJpy dropped substantially to the mid 108 price. The GbpUsd increased over 80 pips to trade with 1.87 handle based on dollar weakness. Equity markets opened lower in the US, and continue to trade down in Europe. ...
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Daily Forex News & Commentary: 08-21-2008

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Market is looking for Euro-zone and Britain for more evidence of slowing growth.

The Dollar rose on Wednesday, reversing a two-day losing markets, supported by views that slowing global economic growth would prompt a wave of interest rate cuts outside the United States. It gained in quiet trade despite a rebound in Crude Oil prices to $115.51 a barrel. Data from Europe and Japan are increasingly pointing to deterioration in the growth outlook for those regions, leading...
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