Mid-Day Report: Dollar Hits New Low as Down Trend Continues

09 November 2009 @ 07:25 pm EDT

Dollar's selloff continues throughout the day with dollar index breaking through 74.94 low made in October to as low as 74.93 so far. Dollar continue to be weighed down by IMF comments, G20 pledge to continue stimulus, return of risk appetite as well as strength in gold. Gold breaks 1100 level to new record high of 1111.7 and remains strong. Crude oil also rebounded strongly and is heading towards 80 level. Commodity currencies are the biggest winner as the week starts.

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