The Euro continued its run against the dollar Tuesday in NY, hitting a one-year high in early trading, before giving back some of theose gains on wavering US stocks and profit-taking. Yield-seeking investors ignored worse than expected euro economic data and seesawing US stocks to propel the better-returning euro toward $1.50. Newtons Law fully applies right now: the dollar will continue to fall unless it has a good reason not to! The dollar's ultra-low interest rates make it attractive for investors to use the buck to fund bets in higher-yielding currencies, such as the euro and the commodity-backed CAD and AUD
In : World Forex News