SubscribeDaily Forex Commentary for June 3, 2009
June 2nd, 2009 • Related • Filed Under
June 3, 2009
Traders May Adjust Positions Ahead of Central Bank Meetings
Talk of creating a new global currency helped weaken the U.S. Dollar on Tuesday. Russia introduced the topic of creating a multi-national currency to take the place of the Dollar as a precaution against growing concerns about the U.S. ability to finance its huge budget deficit. The financial crisis in the U.S. is encouraging emerging market countries like Russia to begin discussions to replace the Dollar as the world’s currency in case the global financial crisis flares up.
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