(Bloomberg) -- The dollar was little changed
against the euro after rebounding from a record low as charts
that some investors use to predict currency movements suggested
its decline was too rapid.
The currency also recovered versus the yen as U.S. stock
futures rose and European equities gained, prompting some
traders to use funds borrowed in Japan to buy higher-yielding
assets elsewhere. The dollar has dropped against 15 of the 16
most active currencies in the past month on concern subprime
mortgage defaults in the U.S. will hurt the economy.
Read more at Bloomberg Currencies News
against the euro after rebounding from a record low as charts
that some investors use to predict currency movements suggested
its decline was too rapid.
The currency also recovered versus the yen as U.S. stock
futures rose and European equities gained, prompting some
traders to use funds borrowed in Japan to buy higher-yielding
assets elsewhere. The dollar has dropped against 15 of the 16
most active currencies in the past month on concern subprime
mortgage defaults in the U.S. will hurt the economy.
Read more at Bloomberg Currencies News
No comments:
Post a Comment