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FINANCE / ECONOMY
Sept. 23 (Bloomberg) — The dollar traded within a cent of a one-year low against the euro on speculation the global economic recovery encouraged investors to buy higher-yielding assets before the Federal Reserve’s policy meeting today….
“The dollar is likely to remain weak in the near term,” said Lee Hardman, a currency strategist at Bank of Tokyo- Mitsubishi UFJ Ltd. in London. “What’s driving the dollar lower is the exceptionally loose liquidity conditions, and this encourages its use as a funding currency.”
Sept. 23 (Bloomberg) — U.S. stocks fluctuated as declines in commodities tempered speculation the Federal Reserve will signal the economy is strengthening. The dollar traded at a one- year low against the euro, while oil, gold and copper retreated.
“There’s concern we’ve moved too far, too fast without any meaningful correction,” said Malcolm Polley, chief investment officer at Stewart Capital Advisors in Indiana, Pennsylvania, which manages $1 billion. “I do think any correction will be muted because the latest figures point to modest economic recovery. But we still need to see top-line corporate growth.”
A senior administration official tells Fox that President Obama and his national security team began fresh analysis of the Afghanistan strategy on Sept. 13 in the White House situation room as part of an on-going review of war policy.
“There’s this idea that there’s a change of strategy looming,but there are difficult questions to ask as we continue to review this,” the official said.
“There are developments on the ground that we have had to look at and the election has raised some issue in regards to our efforts to increase good governance. We constantly reassess what is happening and challenge previous assumptions.”
The Chinese President, Hu Jintao has announced his intention to achieve a significant reduction in the growth of his country’s C02 emissions over the next decade.