Autos, bank worries lift safe-haven dollar

Posted by 7Star Wednesday, April 1, 2009

The dollar and yen rose on Monday as fears of bankruptcy for US automakers General Motors and Chrysler and persistent worries about banks world-wide boosted safe-haven flows into the two currencies. The euro continued to retreat from last weeks two-month high above $1.37, falling below $1.32 after Spain was forced to take over a regional savings bank, while Standard & Poors cut the credit ratings of Hungary and Ireland.

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