Signs of Growth in US Economy Boost Dollar's Safe-Haven Role
Platt, Gordon, Global Finance
CORPORATE FINANCE FOCUS
A batch of better-than-expected US economic data, including nonfarm payrolls and housing prices, gave the dollar a lift last month. Analysts said die signs of strength diminished the need for the Federal Reserve to take additional quantitative-easing steps and strengthened the greenback's appeal as a safe haven. Increased spending by consumers and the US government helped to keep the economy afloat amid a global economic slowdown.
Meanwhile, the euro area's jobless rate rose to a record high of 1 1 .6% in September, as weakness in die peripheral nations spread to the core of the 17-nation bloc and German factory orders fell sharply. Worries about …
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Publication information: Article title: Signs of Growth in US Economy Boost Dollar's Safe-Haven Role. Contributors: Platt, Gordon - Author. Magazine title: Global Finance. Volume: 26. Issue: 12 Publication date: December 2012. Page number: 81+. © Global Finance Media Inc. Feb 2009. Provided by ProQuest LLC. All Rights Reserved.
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