U.S. Dollar Falls to 15 Month Low against Basket of Major Currencies

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The U.S. Dollar fell to a 15 month low against a basket of currencies on Tuesday as concerns about debt issues in Dubai subsided, leading to increased demand for higher yielding currencies. Further weakness in the Dollar was attributed to a report that Chinese manufacturing increased at its fastest pace in five years.

The weakness in the Dollar helped boost commodity and stock demand as investors once again felt comfortable adding more risk to their portfolios.

U.S. equity markets opened higher and maintained strength throughout the day. The leader was the December E-mini Dow which took out the November high and rallied to 10494 before settling below the high.

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