Dollar Recovery On Dow Fall – But How Tempo rary at FinGad.com

Vote

Dollar Recovery On Dow Fall – But How Tempo rary

Categorie: Currencies
Submitted 10 months ago by

Denese

The dollar sank briefly on Tuesday following a string of weak data, but has generally made an aggressive recovery against the European currencies. The dollar gained 100 pips against the Euro, while, and perhaps because, the Dow continued to free fall, losing nearly 500 points for the week. The strength in the dollar is certainly not indicative of sound economic data. It is in fact the opposite and will be short lived. The equities have fallen and the Dollar has become a temporary refuge until the liquid cash is reinvested. Particularly since a 50-basis point rate cut and possibly even 75 basis point cut is expected at the end of the month to help support growth. The economic stimulus package announced by President Bush, equal to about 1 ... More...

[ 0 Comments | Send To A Friend | Bookmark Review ]

0 comments ↓

Please Login or Register to comment