Forex Daily

The dollar took another fall on Tuesday propelling the euro to a one year high against the US currency, as investors resumed selling ahead of the Federal Reserve’s monetary meeting later on this week.

Analysts believe that the fall of the dollar is also due to the Group of 20 summit to be held this week as they discuss the rebalancing of the global economy, which is almost certain to involve a weaker US dollar.

The euro saw a healthy rise of 0.8% in Tuesday’s session, taking it to $1.4798 a new one year high. The dollar also struggled against a host of other currencies, falling 0.7% against the yen to 91.35, 0.8% against the Swiss franc to 1.0235 and hitting a 13 month low against the New Zealand dollar.

This entry was posted on Tuesday, September 22nd, 2009 at 1:41 pm and is filed under Euro, Forex News, Swiss Franc, US Dollar, Yen. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.