SubscribeDaily Forex Commentary for April 7, 2009
April 6th, 2009 • Related • Filed Under
April 7, 2009
Mayo Spreads Doom and Gloom on Banking Sector
The U.S. Dollar rose against most major currencies on Monday following a sharp sell-off in the U.S. equity markets which began after Mike Mayo of Calyon Securities said the U.S. banking sector problems still have further to run before they reach bottom. He also said that U.S. government action may not offer as much help as expected. His report triggered a profit-taking break in banking sector stocks which spread to the broad-based equity markets.
Adding additional pressure to the …
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