Dollar Firmer as Stocks Pared Gains, Gold Made Record High

[Forex-Outlook]

Optimism from the unprecedented EU/IMF rescue package faded today with global stocks generally lower as markets are skeptical that such rescue plan wouldn't be able to solve the root problem of huge fiscal deficit. US stocks attempted a rally but there was no follow through buying to send major indices through medium term moving average resistance decisively. Crude oil also lacked momentum to get pass 78 level. Markets' desire to seek safety can also be seen in Gold which made new record high of 1235 today.

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