10.10.2008 - Dollar rises against major currencies
From Xinhuanet.com: The dollar rose against major currencies on Thursday as Wall Street fell sharply. Investors were still worrying about the credit crisis despite global rate cuts on Wednesday. Stocks of General Motors fell 30 percent after a major credit ratings agency said it was considering cutting its rating on the largest car manufacturer, dragging broader stocks down. The Dow Jones industrial average fell 678.91 points, or 7.3 percent, to close at 8579.19. It was the first time that Dow closed below 9,000 since June 30, 2003. Falling stocks boosted demand of the dollar as a risk aversion currency, sending it rising against the euro and other major currencies. .... Full Article: Source
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