The US Dollar was once again demoralized in Asia as it fell to fresh 13 month lows against the Euro. Investors continued to shun the greenback in favor of the higher yielding commodity currencies as the low interest rate in the US currency makes a favorable funding option. EUR/USD pushed to new 2009 highs near 1.4888, culminating a move in Asia that began in the 1.4830 ballpark. The push in the Euro helped to pull Gold to fresh all time highs just a few cents shy of the 70.00 mark. Full text »
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