Forexyard analysis - Dollar Under Downward Pressure as G8 Summit Takes Its Toll

U.S. Dollar came under much downward pressure on Thursday as the main developing countries led by China increased talk on replacing the USD as the global reserve currency. This helped the greenback plummet against its main currency pairs throughout Thursday’s trading. The Dollar also went bearish as traders returned to risk appetite, as U.S. Unemployment Claims rose less than expected; Britain kept here Interest Rates unchanged, and global equity markets rallied.

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