Sunday, October 19, 2008

Dollar is now recovering...

While the marketplace is going back to normal, all the Americans have now a new reason to be confident:

The dollar meandered on either side of break even against major currencies Friday, giving recent volatile swings a break.

The euro bought $1.3412, down less than 0.1% from $1.3445 on Thursday. The British pound fell to $1.728, just slightly lower than the $1.73 it bought the previous day.

The dollar also edged a bit lower against the Japanese yen Friday, down 0.02% to ¥101.65 from ¥101.68 on Thursday.

The greenback's respite follows weeks of tumultuous ups and downs, coinciding with wild swings in the stock market, ever-tightening credit and more signs that the U.S. economy is entering a recession.