US Dollar On The Defensive Ahead Of Bernanke’s Testimony And Retail Sales Data |
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The US dollar had a good start when the forex market opened in Asia on Monday and into the European trading session, inspired by the US government’s plan reported Sunday evening to help the struggling mortgage giants Freddie Mac (FRE: 7.11 0.00 0.00%) and Fannie Mae (FNM: 9.73 0.00 0.00%). But as we move into the New York session, traders are taking their profits on dollar strength for fear that the US currency may not have sustained buying interest due to continued downside pressure on the US
Filed under: Fundamental
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