February 25, 2010

U.K. Facing Major Economic Problems

Sovereign debt issues in Greece and a poor jobs report in the U.S. helped the Dollar finish better against most major currencies. Throughout the day, investors seeking a safe harbor
supported the Greenback. Early in the session the Dollar got a boost when rumors spread that the S&P Corp. was considering a cut in Greece’s debt rating. Shortly after the New York session
opening, news that Weekly U.S. Jobless Claims rose unexpectedly triggered another strong rally in the Dollar.