Daily Forex Commentary March 11, 2009

March 14th, 2009 • Related • Filed Under




March 11, 2009

Sign That Banking Crisis May Be Easing Drives U.S. Dollar Lower

Equity markets traded higher on Tuesday based on positive comments from Citigroup CEO Pandit. In a memo Pandit noted that Citigroup is having its best quarter since 2007 when it was last profitable. He also noted that the bank’s stock price does not reflect its capital strength.

This news sent stock markets higher in Europe and Asia. The desire for more risky assets also spread to most Forex markets putting pressure on the U.S. Dollar. The …
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