U.S Dollar Sharply Higher Today
Currency Futures--- The currency markets sold off sharply against the U.S dollar today with the Euro currency leading the way down 120 points to close at 1.2559 on speculation that Moody's is going to downgrade 15 global banks this afternoon causing investors to seek the safe haven of the U.S dollar. The British Pound in the September contract finished down 111 point close at 1.5583 blamed on profit-taking due to the recent run-up while the Canadian dollar finished down 90 points in the September contract close at 9697 on able to stay above the two-week high of 9800 in the last couple of weeks. The Australian dollar was down 140 points to settle at 9958 still rallying about 500 points from contract lows just three weeks ago while the Mexican Peso also down sharply today another 90 points to settle at 7130 in an active trade today. The U.S dollar in the September contract was up nearly 80 points at 82.51 as I've mentioned before on a safe haven as investors are flocking out of Europe heading towards the U.S dollar with Spain needing a bailout and all the other countries hurting economically and now with Moody's downgrading 15 global banks there is such a mess over there I still think the Euro currency heads lower with the stronger U.S dollar in my opinion. If you are looking for a futures broker feel free to contact Michael Seery at 800-615-7649 and he will be more than happy to help you with your trading.
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