Swine Flu Knocks Down Dollar in Forex Trading

The U.S. dollar is being knocked around in forex trading on the currency market today. It was showing signs of slowing down last week as things looked better for the global economy. Now, though, swine flu is changing the story.

Right now, the greenback is retreating in currency trading as investors and forex traders show their concern that concerns over swine flu will damage tourism and other money-makers for the U.S. economy.

The yen is gaining as forex traders look for a safe haven that is not the U.S. dollar. Indeed, the greenback is rapidly losing its popularity as a safe haven in currency trading reports FX Street:

In other news, fears of the recent outbreak of swine flu put a major dent in the Dollar as traders began speculating that U.S. tourism would drop in the coming months as a result, and therefore pulled out from the greenback in exchange for an alternative safe-haven.