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Dollar Ends Week Advancing on Uncertainties

March 20, 2010 at 4:42 by Jan Baros

US DollarThe U.S. dollar together with the Japanese yen were the top performers in currency markets before the end of this week’s trading session as multiple events worldwide set risk aversion to higher levels, as the news released today indicated negative surprises for financial markets’ investors.

The Dow Jones Industrial Average fell for the first day in almost two weeks today, in a day were pessimist reigned and commodities and equities fell globally, bringing investors to guard their portfolio in safer assets available in the United States. The Great Britain pound declined after central bankers indicated that the country may plunge into recession again, and in the Eurozone, concerns regarding who is up to provide a bailout for Greece declined once again confidence for markets in the region.

Today’s market seemed of those in the worst moments of the global crisis, when bad events were positive for the dollar as traders opted for safety. The growing cuts on European expenses and general uncertainty towards financial markets may lead the world to another phase of recession.

EUR/USD closed at 1.3527 from Thursday’s rate of 1.3603.

If you have any questions, comments, or opinions regarding the US Dollar, feel free to post them using the commentary form below.

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