Dollar ‘Drops’ on $1 .0 Trillion Bailout/Budget Concerns |
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Dollar Index (DXZ8): The DX opened lower at 77.35 and rose to a morning Hi of 77.54, before retracing on concerns that the 'bailout' being proposed could increase to greater than $1 Trillion, after adding an additional $400B to insure MM funds. An increase in the budget-deficit in 09' of $31B and a 6.6% increase in the Nation Debt to $11.315T may see foreign investors standing on the sidelines until the 'dust' settles, reducing the buying of U.S. assets. Prices continued under pressure
Filed under: Fundamental
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