Excerpt from: GFT News
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| March 30, 2009 | | Economic uncertainty sends investors back toward the greenback in forex trading | Earlier today the U.S. dollar saw some strength in currency trading. Indeed, the dollar rally last night and this morning has been seen as a continuation of the gains made toward the end of last week.
The greenback has been gaining again in forex trading since continued concerns about the economy have surfaced. Once again, recent comments by Timothy Geithner have provided an impetus for a dollar rally as investors look for safe havens. This time, it was his comments about how much more assistance large banks are going to need in order to get through this global financial crisis.
Another consideration is the forced resignation of GM CEO Rick Wagoner. The measures the Obama Administration is taking is sending pessimism through the stock market, and reflecting in the currency market.
| Topic Tags: currency trading, dollar currency trading, dollar rally, forex trading, greenback forex trading, Rick Wagoner, Timothy Geithner, U.S. dollar | |
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