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 Forex - Bailout of Freddie Mac and Fannie Mae boosted confidence in the US financial sector and the Dollar. |
 Sep 9 2008, 1:00
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Senior Member  Group: Membre Posts: 209 Joined: 28-May 08 Member No.: 6,751 Broker: ACM Demo/Real: Demo Leverage: 1:1  |
The Dollar rallied to a one-year peak against a basket of currencies on Monday, as the government's takeover of the country's two biggest mortgage finance agencies boosted confidence in the US financial
sector. While the news did much to reduce concern about systemic financial market risks, it did little to change fundamentals that had started to drive the Dollar higher prior to the weekend -- slowing growth in the euro zone and the UK. Some analysts though have expressed reservations about the latest US government move and were not ruling out a correction in the Dollar's bullish trend of the past month. In the wake of the Fannie and Freddie takeover, US Treasuries sank and US and European shares rallied. View the full article |
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