USD Falls Amid Gains In The Stock Market

24 November 2009 @ 04:41 am EDT

Following Monday's announcement that existing U.S. home sales in November were better then forecasted, Wall Street had an impressive trading day as confidence in the American economy began to return. This in turn led to a less then stellar day for the USD which traders abandoned in favor of riskier currencies such as the EUR. The Dollar Index went from 75.647 to 75.130, and the greenback was down against all major currencies. This further highlighted just how volatile the dollar is, as it was unable to maintain any of the gains made last week.

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