Dollar sells off as traders question if bailout plan is the right prescription |
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The wait is over - the House of Representatives have finally passed the $700B bailout plan but the markets remain unconvinced that this is the right prescription for the credit crunch. The goal of Congress was to find a way to bolster confidence and unfortunately the fact that the stock market went from being up more than 200 points to down more than 150 points by the end of day indicates that the crisis of confidence has not been resolved. Although USD/JPY has trailed the stock market lower,
Filed under: Technical
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