Daily Forex Technical Report - Dollar Soft Following US Rescue Package |
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Action Insight Daily Report Dollar Soft Following US Rescue Package The forex markets are pretty steady with dollar trading in a soft tone today as the story continues. Bush administration has finalized the $700B rescue package and sent to Congress. The scope is widened from mortgage and related assets to "troubled assets". US's debt ceiling will be increased by 6.6% to $11.3T. $400b funds will be provided to guarantee money-market mutual funds. Fed approved Goldman Sachs and Morgan Stanley
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