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Dollar Weakens on News US Expected to Trail G7

Posted by Scott Boyd at 10:52 am EST, 11/05/2009

The dollar fell to $1.4871 per Euro by mid-morning trading in New York today compared to $1.4861 at yesterday’s close. At one point, the dollar fell to $1.4917 – its weakest level since October 27th on speculation that the US will trail most of the G7 in growth recovery, forcing the US to maintain economic stimulus spending longer.

Filed under: Forex Round Up, USD

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November
20
Today’s Global
Market Events
8:30 am
CAD
Core Retail Sales m/m
0.5%
CAD
Retail Sales m/m
0.8%
10:00 am
USD
Existing Home Sales
5.57m
6:00 pm
AUD
CB Leading Index m/m
1.8%