by Lena Manousarides

Dollar and Yen Weaken as G8 Progresses

By Lena Manousarides
09 July 2009 @ 05:12 am EDT

The dollar continued to gain overnight against its major counterparts, with EUR/USD trading below important 1.39 and GBP/USD finding it hard to gain above 1.61, after new regulations and plans were introduced yesterday by Alistair Darling, concerning the banks and their survival. The reality of that matter is that investors are not in a euphoric mood any more regarding the economic outlook and there is the feeling amongst traders that something is" cooking" underneath the rallies we see every now and then, and that it may progress to another market crash later in the year, amid inability of world economies to recover in a timely manner.

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