Corporate foreign exchange news

Dollar 'seen as the standard by G20'

Tuesday, 08 September 2009 09:18:23 GMT

G20 finance ministers still see the dollar as the standard currency for reserves, following a meeting of high-ranking officials on Saturday, reports the Wall Street Journal (WSJ).
The publication explains that Monday - a public holiday in the US - saw the dollar weaken moderately across the board.
However, the weekend's meeting of G20 ministers and banking officials showed no signs of the currency being under question.
"The dollar seems poised to remain a favourite of investors seeking shelter from economic uncertainty this week," the WSJ adds.
Meanwhile, MarketWatch reports that pro-risk investors are seeing the foreign exchange markets as a continued opportunity.
This is in light of pledges from the G20 to continue stimulus measures in global economies.
As a result, high-yielding currencies saw activity over the course of Monday on global exchanges.
Interest in equity markets is also being driven by renewed activity in mergers and acquisitions, the article concludes.ADNFCR-2522-ID-19349905-ADNFCR
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