Congress Rejects Rescue Plan; Equities & USD Selloff |
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9/29/2008 5:40 PM: EUR/$..1.4417 $/JPY..104.00 GBP/$..1.8050 $/CHF..1.0896 AUD/$..0.8001 $/CAD..1.0457 Congress Rejects Rescue Plan; Equities & USD Selloff The dollar’s fortunes reversed sharply, falling from near the 107-level against the yen to plunge to the 104-handle after it was announced that the House of Representatives voted against the $700 billion bailout plan by a vote of 228 to 205. The failure to pass the Administration’s plan to purchase toxic assets off banks’ balance sheets
Filed under: Fundamental
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