Daily Forex Commentary for April 22, 2009

April 22, 2009

Dollar Down in Theme-less Market

The U.S. Dollar lost ground to all the major currencies on Tuesday on mixed fundamentals. There was no theme in the market today as many of the currencies reacted to their own individual news. After the tone was set in each market, comments from U.S. Treasury Secretary Geithner helped move the markets but I wouldn’t say he was the main catalyst of today’s action.

Geithner basically calmed the selling pressure in the U.S. banking sector today by stating that the vast majority of U.S. banks …
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