FXstreet.com (Córdoba) - Dollar tumbled once more against European currencies falling to fresh lows in 14 months against the Euro and the Swiss Franc. The Yen also slide across the board on Wednesday. U.S. markets fell sharply after a big drop in the last hour of trade following a cut in Well Fargo's rating and the release of the Beige Book. Crude oil jumped to levels above $81 posting a fresh high for the current year.

Stocks rose modestly in Europe but fell in the U.S. and in Asia. In Wall Street equities where up most of the session but after the Beige Book investors became cautions and following a rating cut to Well Fargo from an analyst, a big sell off took place. The Dow Jones lost 0.92% and finished at 9,950.

Crude oil rallied to fresh highs for the current year and posted above $81 a barrel the highest price in more than a year. Gold also finished with important gains and rose above $1,065 a /oz.

Dollar tumbled across the board and only rose against the Yen. EUR/USD broke above 1.5000 and peaked at 1.5047, posting a fresh 14 month high. GBP/USD continued to rally and jumped above 1.6600 to 1.6637 posting a fresh 5-week high. USD/JPY posted moderate gains. Greenback failed to hold above 91.00 after being unable to break above 91.35.

The Yen fell sharply against European currencies. GBP/JPY rose to 151.50 (one month high) and EUR/JPY jumped to 136.75 (2-month high).

The Forex.com Research Desk, comments: The so-called commodity currencies relished the bid tone to energy prices. USD/CAD plunged from a 1.0560/70 open towards a low near the 1.0380 area. AUD/USD meanwhile, ratcheted up to a 0.9325/30 high after an open near the lowly 0.9210 zone. Both pairs have reversed slightly on the equity selloff but the trend remains in favor of stronger CAD and AUD for the foreseeable future.

Korman Tam, from Forexnews.com affirms on the coming session: The economic calendar for Thursday will see weekly jobless claims, August home prices and the September leading economic indicators index. Weekly jobless claims are estimated to edge up slightly to 515k from 514k in the previous week. Meanwhile, the leading economic indicators index is forecasted to improve to 0.80% from 0.60% in August.

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