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 riskier currencies.
The dollar has fallen quickly throughout the week, and it has dropped nearly to 2 percent against the euro. After earlier hitting a new 2009 high level of $1.4634, on Friday morning, the euro rose to $1.4600 from $1.4585 late Thursday.
Meanwhile,the British pound, has shown a rise up to $1.6699 from $1.6665, while the dollar fell from 91.74 yen to 90.32 Japanese yen, which is its lowest point since February.
