Currency Movement - economic recovery which spurred the...

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International Business Finance Currency Price Movement September 23, 2009 The dollar moves against the Yen and the Euro all the time. Currency prices are affected by how much money people or institutions, put into the market, but more importantly, currency prices are affected by news and what happens in the world. Any time news comes out about interest rates, unemployment or similar things, currency price is affected. The dollar recently slid to $1.4821, the lowest it has been since Sept. 23, 2008. According to Bloomberg.com the fall in price was due to the signs of a global
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Unformatted text preview: economic recovery, which spurred the demand for yield. The euro has reached a 5-week high against the yen. Citigroup analysts are using technical analysis to try to forecast what the currency will continue to do next. They say that the euro is likely to gain more against the yen because of the pattern that they have seen. They say that due to the euro going above the “neckline” of a “double-bottom” pattern, the euro will continue to gain against the yen....
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