As weak economic data continues to plague many of the other major currencies, forex trading investors are turning to the dollar for refuge. On August 24th, the dollar was able to gain against most of the forex majors. Both of the stock markets fell, with Dow Jones going down by 0.38% and NASDAQ falling by 0.92%. The commodities also weakened with gold closing at $1,228.50 per ounce and crude oil closing at $73.10 per barrel.

The pound was approaching a four-week low against the dollar due to a forecast that business confidence will weaken for the quarter. The GBP/USD pair traded at a high of 1.5619 and a low of 1.5499. In a twist of even worse fate, the euro fell to a near six-week low because of weak economic data in manufacturing. The EUR/USD pair traded at a high of 1.2729 and a low of 1.2647. With worries over global economic growth, the Japanese yen posted gains against other forex majors as investors turn to a safer currency. The USD/JPY traded at a high of 85.64 and a low of a low of 85.09.