Forex – Descending stocks appreciated Dollar - After the slow down in the global stock market most of the investors rallied towards the US dollar letting the dollar rise to a high level. On the other hand the dollar also raised against its European counterpart on account of a decline in the US stock markets. A negative response from the corporate trade, and the economic concern for recession, which lead investors run towards the greenback As against the yen, the dollar strengthened to a considerable level on account of rising equity markets above the expected sentiment index reading for January. The recovery of stocks in Asia is prompting traders to get back to the risky trading. But still the USD is under stress and there have been expectations for 50bp rates cut on the upcoming federal meeting on 30th January.
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