Forex Traders and the Currency Market

227278 Resource 128460 120646 120646 1235760808991 1235760808991 Controlled US Government to Own 1/3 of Citi

Shares drop on news; US dollar continues in strength on the currency market

The<a href="http://online.wsj.com/article/SB123573611480193881.html?mod=rss_whats_news_us_business" target="_blank" title="Citi, US government, US dollar, currency market, forex traders, safety, Citi shares, economy"> US government and Citi have agreed to a deal in which the government will increase its stake in Citi to 36%</a>. Even as the government owns more than 1/3 of the embattled bank, almost 3/4 of existing shareholder stake will be eliminated. On the news, Citi shares dropped rather dramatically -- not much of a surprise. The US government also expects to make changes with the Board of Citi. This type of government interference is beginning to cause some concern. Since this is seen as a sort-of quasi <a href="item/226980" target="_blank" title="Citi, US government, US dollar, currency market, forex traders, safety, Citi shares, economy">nationalization of Citi</a>, it is clear that the situation in the U.S. continues to deteriorate in terms of economy. As a result, the US dollar is likely to remain strong in the near term, since this will prompt more forex traders in a flight to safety. 9 application/xml false Citi Citi shares currency market economy forex traders safety US dollar US government Forex Traders and the Currency Market Learn about forex trading http://www.fx360.com/?aid=5704 Mozilla/5.0 (Macintosh; U; Intel Mac OS X 10_5_6; en-us) AppleWebKit/525.27.1 (KHTML, like Gecko) Version/3.2.1 Safari/525.27.1 127.0.0.1 127.0.0.1 mmarquit 66.182.66.2 false true false false true 128460 blog blogsite/GFTForex/web