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U.S. dollar weakened against other major currencies in trading session Wednesday (04/20/2011). The lack of market-moving important data on the trading session Wednesday to make the attention of market participants remained focused on the factor of interest rate differentials between countries.
Community bond earnings reports several large U.S. corporations helped trigger the re-emergence of risk appetite among investors to target the country's currency that interest rates higher. The interest rate is higher tend to attract the interest of investors because it gives higher yields as well.
As known, the Federal Reserve has been since December 2008 to maintain interest rates at levels close to zero percent, while some other country's central bank has raised interest rates.
The euro was observed to leap to a range of 1.4542 against the dollar, its highest level only since January 2010. At the end of the session and then trading Wednesday, the euro closed at around 1.4519 or about 1.3 percent stronger against the dollar.
Previous dollar had gained versus the euro in trading early this week due to rising concerns that Greece had to restructure its debt. But worries about it again does not mean that when the interest rate expectations factor back into the main theme.
Greek Finance Minister himself had also been confirmed that there is no need to worry about the debt problem in Greece.
Meanwhile, bond / financial reports from several technology companies from the U.S., including reports from Intel Corp. and Yahoo Inc., to boost the performance of U.S. stocks. The Dow Jones Industrial Average rose about 1.5 percent was observed. On the other hand, stable world oil prices above $ 111 per barrel and gold reaching new record highs up to the range of 1505.90 against the dollar.
Dollars are so far still regarded as a safe-haven currency, tends to weaken when the stock market and commodity prices rose.
In other trading, sterling rose to the highest range of 1.6424 to the dollar before it was closed about 0.5 percent stronger at 1.6399 in late trading session Wednesday. The dollar also weakened against the Swiss franc about 1.25 percent to close at 0.8883.
Similarly, the Australian dollar, jumped to 1.0716 against the dollar, its highest level since the Australian dollar last traded freely in 1983. Aussie benefited by the high Australian interest rates are currently at the level of 4.75 percent and China's booming economy is a major destination of export of raw materials and commodities Australia. (@ Tz) (Qom / Qom)source: detik.com
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