Friday, May 8, 2009

Forex: Dollar plunges; EUR/USD at 1.3630

Dollar is in a free falling across the board. EUR/USD recently went above 1.3600 and kept rising reaching at 1.3630 the highest price since March 23rd. For the day the pair has raised more than two hundred pips representing an increase of 1.76% for the day.

GBP/USD flight above 1.5200 to 1.5215 a new 5-month high. The pound is stronger and gaining 1.20% for the day. Also against the yen the dollar is suffering. USD/JPY rallied downside after the pair broke below 98.75 to 98.30 where the dollar rebounded. Now is at 98.47 down 0.85% for the day.