Dollar up on Bailout Plan approval |
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The dollar strengthened on Thursday, nearing a one year high against a basket of major currencies, after the United States Senate passed a $700 billion bank bailout package. However, there is still uncertainty as to whether the plan will be approved by the House of Representatives after its initial rejection at the start of the week. The greenback was up against both the euro and pound as the credit crunch has continued to take its toll on European banks. There was also increased demand for
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