 Forex - Month-end demand from fund managers rebalancing Forex hedges boost the Dollar |
 Nov 3 2008, 1:00
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The Dollar recorded its biggest monthly gain against a basket of currencies in more than 17 years on Friday, boosted by month-end demand and concerns about a deteriorating global economy. The Yen pared most of its gains against the Dollar, but traded sharply higher against the Euro as investors remained averse to risk after bleak US economic reports heightened global recession fears.
Financial markets took little comfort from the Bank of Japan's interest rate cut, the latest monetary policy initiative after central banks in the United States and other countries lowered rates last week to support growth. View the full article |
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