Dollar's In Demand, Pound Gets Pounded
By: Kelley Holland | News Writer
The dollar is rallying as risk appetite wanes, and the pound is getting punished for weak manufacturing data. Time again for your FX Fix.
Fears of retaliatory attacks by Al Qaeda are pushing investors into the dollar, which is bouncing off three-year lows. [WSJ]
The Canadian dollar is also having a good day after the Conservative Party victory in yesterday's election. [Reuters]
The British pound is lower against the euro after a disappointing report on manufacturing activity. [fxstreet.com]
India's central bank raised interest rates by 50 basis points to keep inflation expectations from becoming "unhinged." [Reuters]
In Australia, meanwhile, the central bank kept interest rates unchanged in a widely expected decision. [Reuters]
China does not need to be concerned about the effect of a weak dollar on its foreign exchange reserves, says a prominent economist. [Reuters]
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