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On Monday the euro has shown some advancement, hovering near the $1.50 level in New York trading as demand for the greenback has been hurt by the comments from a Federal Reserve official.

Greenback’s gains reversed

The remarks helped in encouraging a broad rally in global stocks, oil, gold and higher-yielding currencies that reversed the greenback’s gains from late last week.

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Position of Major Currencies

In New York on Monday morning, , according to EBS via CQG the euro was at $1.4988 from $1.4851 late Friday. It has been noted that the dollar was at Y88.80 from Y89.00, whereas the euro was at Y132.97 from Y132.26. The U.K. pound was at the position of $1.6621 from $1.6491. The dollar was at CHF1.0089 from CHF1.0183.

The Dollar Index

The Dollar Index, was at 75.024 from 75.647. This index tracks the greenback against a trade-weighted basket of six currencies.

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On Monday, the dollar gained for the second straight session against the yen, as today it has raised to a more than two-week high, with traders covering short positions as they debated the timing of a tightening in U.S. monetary policy though there are some investors that remained cautious.

dollar and yen

Data last week showed that large dollar short positions has been held by speculators.

Pound Wallowed against both the euro and dollar

After a a report said British interest rates would stay at rock-bottom levels for some time the pound wallowed against both the euro and dollar.

Dollar was 0.2% higher at 89.98 yen JPY=

In early New York trade, compared with late Friday’s levels the dollar was 0.2 percent higher at 89.98 yen JPY=, after rising to 90.46 yen, which is the highest since Sept. 25.

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Dollar/yen claws back from 8-month low, euro hit low

September 29, 2009

On Tuesday the dollar edged up against the yen, correcting steep gains that has been made the previous day as Japan’s finance minister backtracked over its tolerance of a stronger yen. On Monday the U.S. currency clawed back from an eight-month low…

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After G-20 Meeting, Yen Extend Gains

September 27, 2009

Market sentiment towards the end of this week’s session were moved by the group of 20 meeting, and the yen proved to be one of the best performing currencies as it climbed to a seven-month high after…

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Gold Price Reduces

September 26, 2009

Due to a sharp decline in world gold prices, on September 25 the selling price of domestic gold reduced to VND 22 million per tael, which has dropped down by VND 200,000 per tael as compared to what it was on…

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Dollar Gives Back Some Early Gains Vs Euro, Yen

September 21, 2009

In New York earlier Monday the dollar gave up some of its gains, it has dropped back to day-earlier levels against the euro, but as investors continue to adjust positions it remained…

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Dollar climbs after strong U.S. Retail Sales Data

September 15, 2009

For the second straight day on Tuesday the dollar climbed against a basket of major currencies as the investors were prompted by positive U.S. economic data to return to the theme that the U.S. will be at the forefront of a…

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Dollar creeps higher versus majors, but eases against yen

September 14, 2009

Against other major currencies, US currency has shown some firmness as the investors are prompted by a fall in stock prices to flock to their perceived safety.On Friday the dollar that weakened during early New York trading recovered the losses during…

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Japanese Yen Attuned to Risk Aversion, But What about the USD-JPY?

September 13, 2009

This past Friday the market finally broke from momentum after a strong surge in risk appetite through much of the week. However,this stall cannot be called a reversal, at least not yet. When we have analyzed the overall sentiment in the market, it has been found by us that the benchmark Dow is just off 10-month highs, for the current a…

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Dollar slump continues as gold hits 18-month high

September 12, 2009

On Friday, the week’s dollar sell-off continued, as the greenback hit a fresh 12-month low.The latest indicator to investors that the worldwide slowdown is drawing to a close is an accelerating economy in China, and they avoided the “safe” dollar in favor of gold, by which an 18-month high level has been hit, as well as other commodities and…

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