USD Slides as Riskier Assets Gain

By Korman Tam
09 February 2010 @ 03:44 pm EDT

The dollar slumped across the board in Tuesday trading amid a return to riskier assets, with the greenback sliding to 1.3839 against the euro and just shy of the 0.88-figure versus the Aussie. The US stock indexes climbed higher as the Dow Jones improved by over 1.75% to back above the 10,000-level while the S&P 500 edged up by more than 1.4%. Traders also pushed crude oil sharply higher, advancing by more than 2.7% to 73.86 per barrel while spot gold increased by nearly 1.3% to $1,076.

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