FOREX-Dollar slides on G20, IMF; euro above $1.50

Mon Nov 9, 2009 11:29am GMT
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* Dollar falls broadly after G20, U.S. jobs data

* No rush to withdraw stimulus boosts risk appetite

* Euro above $1.50 EUR=, dollar index below 75.00 .DXY

(Adds comment and quotes, updates prices)

By Jamie McGeever

LONDON, Nov 9 (Reuters) - The dollar weakened broadly on Monday, pushing the euro above $1.50, after a weekend G20 meeting and U.S. jobs data last week did little to alter the view that U.S. interest rates will stay low for some time.

The conviction that U.S. -- and other -- interest rates will remain low for the forseeable future and liquidity still plentiful boosted demand not just for non-dollar currencies but for a range of other assets from equities to gold.

Traders also noted that the Group of 20 finance ministers and central bankers meeting at the weekend did not dwell on exchange rates, suggesting policymakers were not too concerned with the dollar's weakness, which remains relatively orderly.  Continued...

 
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