The dollar is caught up in the on / off nature of the US $700bn bailout. The dollar strengthens as it appears that the deal is off and is weakened when it appears that the “money printing” plan could be given the go ahead by Congress. While the US currency has signalled a major return to form overall so far this month, the Credit Crunch may mean that it is eventually the Yen and not the greenback which emerges as the winner in coming weeks, Sterling is hurt by rumours of a half point rate cut as early as next week, and the Euro by confirmation of an Irish recession.
Blue Index :|
Blue Index :|
