EURO: THE ENDLESS PIT IN 2010

The euro has just touched a new record low for 2010 versus the greenback and the yen on speculations that Greece will suffer its first credit downgrade this year, which would follow the two previously suffered last year as the southern European nation started to agonize with its growing budget deficits.

CANADIAN DOLLAR RALLIES AS ECONOMIC SYSTEM EXPANDS, RETREATS

The Canadian dollar rose yesterday as economy expanded, following a period of contraction. Yet the currency retreated today amid fears concerning a potential US government shutdown.

Canadian gross domestic product grew 0.6 percent in July, matching traders’ expectations. The economy shrank 0.5 percent in June. The report was definitely positive for the loonie, so it is not a surprise that the currency has rallied.

DOLLAR ENDS RALLY ON INTEREST RATES COMMENTS

After gaining since the beginning of this trading session on speculations that a robust U.S. economy would provide grounds for borrowing costs to rise in the following months, the dollar slid as government officials stated otherwise.