US Dollar Corrects After Monthly Gains

The US dollar corrected today after it rallied in September despite the downgrade of the US credit rating by Standard and Poor’s in August and the speculation the US policy makers are debasing the currency’s strength.

The dollar gained against all 16 of most-traded currencies for the first month in three years in September. The greenback also outperformed stocks and commodities for the first time since May. The currency of the North American nation had the best quarter against the euro in more than a year.

EUR/USD advanced from 1.3340 to 1.3367, following the drop to 1.3312, while USD/JPY dropped from 77.06 to 76.90 as of 8:18 GMT today.

If you have any questions, comments or opinions regarding the US Dollar,
feel free to post them using the commentary form below.