Corporate foreign exchange news

Dollar slows slide

Thursday, 10 September 2009 09:44:34 GMT

The slowing pace of the dollar's slide has helped to bolster stocks that are traded based on the currency, reports MarketWatch.
According to the newswire, Wednesday saw a continuation of the "cautiously optimistic tone" that has typified trading since the Labor Day holiday in the US.
Uri Landesman, portfolio manager at ING Investment Management in New York, tells MarketWatch: "I'm getting a little more comfortable with this market from a fundamental standpoint."
However, he adds that chart-based trading still leaves the market open to some short-term swings.
With the improving fortunes of the currency, the news provider adds that dollar-traded stocks have had chance to "level off".
The dollar received a further boost this week as the Wall Street Journal reported that it is still seemingly the favoured currency of G20 leaders.
According to the publication, dollars are also still perceived as a shelter from uncertainty in global economies by many investors.ADNFCR-2522-ID-19354357-ADNFCR
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