EURUSD down to 1.3450

Thursday, 22 September 2011 01:25

The World Stocks dropped to 12 month lows as the U.S Dollar strengthened against most major currencies to a seven month high.

The Euro dropped more than 200 pips against the U.S Dollar in today trading session, after rising to 1.3750 on yesterday's Fed news.  From 1.3750 the pair dropped to hit rock bottom today with lows of 1.3446.

Gold also took a downward spiral as the precious metal dropped $40 after the FOMC reports and statements.

Currently, the precious metal is trading at a 1757 range.

PMIs' indices negative reports gave the euro another push down, furthering the strength of the U.S Dollar.  French service PMI fell from last month's 56.8 points to 52.5 in today's release.  Germany's service sector fell from 51.1 to 50.3 points.