Excerpt from: Forex Analysis
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| December 02, 2008 | | Strong dollar policy? Certainty in the FX market? We'll have to see | One of the confidence-inspiring pieces of news from a few days ago was that Timothy Geithner, president of the New York Federal Reserve, would be Treasury Secretary under the new Barack Obama administration. This has produced some hopeful optimism in the stock market, but it has also influenced things in currency trading.
Dollar bulls like his grounding in a strong dollar policy, something that marked the Treasury Department that he worked for under Bill Clinton. And the currency market likes that he actually understands how currency trading works. The Forex Blog offers this about Timothy Geithner:
Regardless, the consensus among analysts is that Geithner understands
currency markets, and is not likely to take steps that will rattle
them. This would mark a sharp break from his predecessor Henry Paulson,
whose bungling of the economic bailout has given rise to record levels
of volatility (read: uncertainty) in forex and financial markets. | Topic Tags: currency market, currency trading, dollar bulls, forex blog, FX market, stock market, strong dollar policy, Timothy Geithner | |
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