7th October 2014
Corrections were abound in forex trading on Monday after last week's peaks and troughs for the dollar index and the euro.
The index that tracks the greenback's performance against a basket of major currencies hit a four-year high last week, but cooled during Monday's trade, as investors cashed in their chips which had gained in value following positive US data.
Elsewhere, the single currency was going the other way on Monday, with traders buying into it on the suspicion that previous suggestions of even looser economic policy has taken the euro down as far as it will go, so if-and-when they do occur, the price shouldn't be too adversely affected.
However, gains for the single currency weren't as great as they could have been in yesterday's forex trading after Germany factory orders disappointed in August. Although a decline had been expected, the actual drop was more than double the forecast and the largest drop since early 2009.
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