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Dollar Declines as Stock Markets Continue Their Fall

August 5, 2011 at 16:34 by Andriy Moraru

US DollarThe US currency returned to a bearish trend today, as the global stock markets led by the United States equities failed to stop falling today, extending the drop despite the positive employment data.

The dollar fell against the majors, including the euro, the British pound and the Japanese yen today. It also slid to the new historical minimum versus the Swiss franc, while strengthening for the seventh day in a row against the Australian dollar.

The US stock market is currently down by about 0.3 percent, following a more than 2 percent drop registered during the day. Yesterday, Dow Jones index closed with about 4.3 percent loss. Even the unexpected growth of the nonfarm payrolls by 117,000 for the month of July that was reported today could help neither US stocks, nor US currency.

EUR/USD rose from 1.4091 to 1.4210 as of 16:32 GMT today. GBP/USD went up from 1.6259 to 1.6364, while USD/JPY declined from 79.14 to 78.49 today.

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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