Daily Foreign Exchange Market Summary 19/11/2009

19 November 2009 @ 11:59 am EDT

The US dollar strengthened on safe haven flows on the back of lower equity and commodity markets. The Philadelphia Fed. survey came in higher than expected at 16.7 much higher than the forecast of 12.3, while U.S. Initial jobless claims came in unchanged at 505.000 slightly higher than expected. In other news, Federal Reserve officials on Thursday downplayed the consequences of the falling U.S. dollar, underscoring that deflation is still a threat, especially with commercial real estate prices continuing to fall.

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