Dollar Retreats In The Beginning Of The Week
The dollar fell against the major currencies in the beginning of the week as investors relocated to riskier assets. The rally of the stock markets and gains in gold and oil decreased the appeal of the greenback as a safe-haven. Optimism was fueled by the US Existing home sales, which rose to a two and a half year high at 6.10 million in October, beating the consensus of 5.72 million. Separately the St. Louis Federal Reserve President James Bullard on Sunday said the Fed should continue its asset purchase program beyond a planned end date, to stimulate the economy additionally. This is also a signal that the interest rate …
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