Daily Forex Commentary for 021609

February 16, 2009

Direction of U.S. Dollar Rests on Stimulus Packages

The U.S. Dollar finished the week close to unchanged against most majors as speculators remained on the sidelines while waiting for more concrete details regarding the Obama Administration’s banking rescue plan. The Dollar was looking weaker at the start of the week as speculators anticipated that the combination of financial stimulus and banking rescue plans would help lead the U.S. out of a recession more quickly and increase demand for higher yielding assets.

This trading plan was dealt a …
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