Foreign Exchange Traders Buy US Dollars as Swine Flu scares the market

Foreign Exchange - Pounds Sterling and Euro Exchange Rate Outlook

Foreign exchange traders are buying dollars and is gaining strength across the board as the outbreak of swine flu in Mexico and elsewhere is causing a knee-jerk reaction--risk aversion and flight to the US dollar as a safe-haven. This is a reversal from sentiment on Friday, when stock markets rose, indicating an on-going drop in risk aversion. Now risk aversion is back and that favors the us dollar exchange rate, which may break its link with the stock market one of these days.

Yes, we think the US stock market will keep rising on perception that the worst is behind us.

Pounds to US Dollars = 1.4612
Pounds to Euros = 1.1137
Euro to Pounds = 0.8976
Pounds to Australian Dollars = 2.0448

Bye For Now

Barbara Rockefeller
Foreign Exchange Trading
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