Daily Forex Commentary for 021809

February 18, 2009

Deteriorating Emerging Markets Threaten Euro Zone Banks

The U.S. Dollar rose sharply higher against most major currencies as a slew of negative news hit the markets simultaneously. The day was supposed to have a positive tone as many traders were going to give the benefit of the doubt to President Obama’s signing of his financial stimulus package. The optimism surrounding his plan was never allowed to grow as negative news from different parts of the globe trumped the positive nature of the signing.

U.S. Forex traders woke …
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