January 22, 2009

Timothy Geithner Promises to Take Active Role in Stabilizing Banks

Promise sends dollar lower in forex trading

Yesterday, as part of his confirmation hearings as President Barack Obama's Treasury Secretary, Timothy Geithner promised to engage in a prolonged effort to stabilize the U.S. banking system. One of the options on the table, he said, is the possible creation of a government bank to house toxic assets.

Interestingly enough, this promise may be what is sending the dollar lower in forex trading today. The promise is helping the stock market, and increasing risk appetite. The dollar, which has been seen as a safe haven currency during the financial crisis, is now pulling back as traders look for riskier positions right now.


	More on Timothy Geithner
	Information on the Treasury nominee
	http://forex.gftforex.com/public/item/224184

	U.S. Dollar in Forex Trading
	Currency trading on the FX market
	http://www.gftforex.com/land/index.asp?aid=446

Topic Tags: Barack Obama, dollar forex trading, financial crisis, forex trading, Geithner, risk appetite, safe haven currency, Timothy Geithner, U.S. dollar

by mmarquit

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