The move hit the dollar by dashing hopes for a comprehensive solution to the credit crisis that has claimed a variety of major financial institutions such as Lehman Brothers this month, stirring worries of a deeper economic downturn.
"There are many dollar-selling factors such as a slowing economy, possible Fed rate cuts and an outlook for worsening fiscal conditions for the U.S. government as it is expected to spend money to rescue banks," said Osamu Takashima, chief currency analyst at Bank of Tokyo-Mitsubishi UFJ.
Complaints increased in the latest period because all currency pairs contain USD whether as a base or counter currency are suffering fluctuation because of the bad conditions the dollar was suffering. However, as ForexGen has the greatest trading station and financial analysts, ForexGen presents provides all clients with the best solution for this problem. After deep analysis and continuous studies, ForexGen can provide its clients with the best timeframe to perform their trades. And because ForexGen cares for the financial asset of its clients and because ForexGen seeks the general benefit for all, ForexGen experts were making their studies and updating for their analysis every hour to help ForexGen sending the right time for ForexGen clients to perform their trading activity successfully. And so, the majority of ForexGen clients could safely pass this bad period.
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