E.S. Browning and Alex Frangos in an article in the Wall Street Journal September 9 wrote the following:

"The dollar tumbled to its lowest level in nearly a year as investors fled a safe haven for riskier assets and worried that the U.S. economy could be a laggard in the global recovery.

"The decline was broad with the dollar falling against most major currencies.  

"'What you are seeing is a broad reallocation of risk,' says Rebecca Patterson, global head of foreign exchange and commodities at J.P. Morgan Private Bank.  `People who bought T bills and treasury notes during the crisis are slowly exiting those positions to buy higher yielding assets elsewhere.'"