SubscribeDaily Forex Commentary for May 7, 2009
May 6th, 2009 • Related • Filed Under
May 7, 2009
U.S. Dollar Finishes Roller Coaster Day Lower
The U.S. Dollar had a volatile two-sided trade today as traders reacted to a friendly employment report, an unofficial report that the bank stress tests would show better than expected results and a smooth Treasury Note auction.
Overnight the U.S. Dollar was up on speculation that Bank of America would need up to $34 billion in new capital. The Dollar’s gains started to erode as the New York opening approached as number crunchers began to doubt the figure.
Traders …
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