The dollar plunges on buoyant bank earnings

04 November 2009 @ 05:03 pm EDT

The yen and dollar slide as the optimistic bank earnings by Societe Generale enhanced demand on higher-yielding assets ahead of the FED statement. The dollar retreated despite the downbeat data released in the U.S. showing pessimistic figures in non-manufacturing sector and labor market. The dollar index, which tracks the dollar movements against a basket of major currencies, slumped to 75.87 compared with the day's opening at 76.27.

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