Thursday 30 October 2008

U.S. dollar has slid as investors grow more willing to take risks and buy stocks, easing demand for the currency as a safe haven.The dollar skidded against the euro, which climbed Thursday to a high of $1.3296, while the pound surged to $1.6672, before slipping back slightly to $1.3076 and $1.6479 respectively. Both rates hit their highest since October 21 earlier in the session Thursday.Central banks and the International Monetary Fund have taken action over the past several days to ease credit and put more money into the world financial system, still in the throes of a severe credit crunch after the collapse of the market for bonds based on subprime mortgages. Stocks are up as a result.

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