SubscribeDaily Forex Commentary for June 11, 2009
June 10th, 2009 • Related • Filed Under
June11, 2009
U.S. Dollar Rallies as Russian Announcement Disrupts Credit Markets
Following a two-day setback, the U.S. Dollar regained strength as an announcement by Russia to cut its holdings of U.S. Treasuries spooked investors into the safe-haven Dollar.
The same announcement helped put in an early top in the equity markets and chased traders into lower risk assets.
The Treasury Bond market also fell hard as yields shot up as traders braced themselves for more supply and less demand for Treasuries in the future.
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