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.



