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Dollar Rebounds After Retreating on Signs of Global Recovery

April 1, 2010 at 13:23 by Vladimir Vyun

US DollarThe U.S. dollar rose slightly above the opening level after it dropped today to a lowest level in a week versus the euro as the pace of the global economic rebound increase, forcing down the demand from traders and investors for the U.S. currency as a safe haven and an investment asset, who are now more willing to part with the greenback and take a little more risk.

The renewed pace of the world economic recovery is proving to be dangerous to a performance of the greenback, yet it can, in the same time, to bolster the U.S. dollar against other currencies, like the yen, as they can also be affected by the economic recovery. The Japanese yen declined, while the confidence among the large Japanese manufacturers reached the highest level since September 2008.

EUR/USD traded at 1.3498 as of 11:23 GMT after it opened at 1.3509 and reached a daily high of 1.3560 earlier today — the highest level since March 23rd.

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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