Global Recovery Damps Demand for Safety, Weakening Dollar

The US dollar continued to decline today as the signs of the global economic recovery made the higher-yielding currencies more appealing than the safer ones.

South Korea’s consumer prices advanced 3.5 percent this month from a year ago, compared to the median forecast of 3.2 percent growth. German Chancellor Angel Merkel vowed to defend the shared 16-nation European currency, supporting the euro versus the dollar.

EUR/USD advanced from 1.3288 to 1.3375 as of 11:10 GMT today, while USD/JPY declined from 81.52 to 81.32.

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