November 10, 2009

U.S. Dollar Gets Trounced after G-20 Finance Ministers Offer No Support

The U.S. Dollar was trounced on Monday after the G-20 finance ministers failed to discuss the value of the Dollar at their week-end meeting, thereby, effectively offering no support. In addition, they decided to keep stimulus measures in place until the global economy can show sustained gains.

The real selling pressure hit the Dollar after an IMF report issued at the meeting stated that the Dollar has moved closer …