Friday, January 22, 2010
Perfect Conditions Drive Dollar Up for Week
The U.S. Dollar closed sharply higher for the week, boosted by a weaker Euro, news that China was tightening its monetary policy and an increase in demand for lower yielding assets.
Late in the week, the Dollar flattened out after President Obama proposed restrictions on financial institution trading. The early read is that investors feel the proposal is Dollar negative and in
the long-run may discourage investors from buying U.S. assets.
The EUR …
