Daily Forex Commentary for 030209

March 2, 2009

U.S. Dollar continues to rise on Increased Demand

The U.S. Dollar rose to its highest level in three years on Friday on concerns that the global recession and financial turmoil was worsening, the third bailout of Citigroup by the U.S. government and an outright demand for safety. It is very clear that there is a tremendous central bank need for U.S. Dollars to fund economic recovery activities. As the global economy worsens continue to look for central banks to seek more U.S. Dollars.

The demand for U.S. …
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