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USD Goes Up After the Holiday

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September 9, 2010 at 2:53 am

On the 7th, the US dollar finished mixed against the other majors because of a lack of economic data caused by the Labor Day holiday. But on September 8th, it was a different story as forex trading was in full effect, with the markets running and economic data reports to support trades. NASDAQ weakened by 1.11% and Dow Jones weakened by 1.03%. The commodities also fell, with gold closing at $1,256.8 per ounce after a 0.22% loss and crude oil closing at $73.8 per barrel after a 0.36% loss. The dollar gained against most majors because of worries that economic growth is still slow in other regions.

The euro fell against the dollar, with the EUR/USD pair trading at a low of 1.2677 and a high of 1.2819. The pound fell to a six-week low, as the GBP/USD pair traded at a low of 1.5296 and a high of 1.5424.

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