By CountingPips.com
The US Dollar reached yearly lows against the euro, Swiss franc, Australian dollar and New Zealand dollar in forex trading today as money pored out of the dollar and into the so-called risk currencies. Gold soared to over $1,000 per ounce for the first time since February 20th, coinciding with gains in the stock market and in crude oil. The dollar also saw losses against the Japanese yen and British pound while gaining versus the Canadian dollar.
The dollar fell to over the 1.4500 dollars per euro level today to mark the lowest exchange rate since December 17th of 2008 when the EUR/USD pair reached as high as 1.4720. The EUR/USD had reached a yearly low of 1.2456 on March 2nd before embarking on an uptrend that has continued through today’s high.
The Australian “aussie” dollar has also continued to soar since March and reached its highest exchange rate versus the USD since August 2008 at 0.8658. Last year, the aussie flirted with parity against the dollar, reaching as high as 0.9849 aud per usd before a sharp decline going into the global financial crisis.
The New Zealand dollar broke the 0.6980 level today against the USD for the first time since late August of 2008. The NZD/USD pair reached a low of 0.4894 in March of this year before starting its upward trend.
The dollar fell to it lowest exchange rate against the Swiss franc since December 28th of 2008 today at 1.0432. The USD/CHF had reached a high around 1.1950 earlier this year.
