March 17, 2010

Euro Weakens on Bearish Bailout Comments

The U.S. Dollar finished down against most major currencies. From the start it was under pressure as trader demand for risk pressured lower yielding currencies. The early morning
weakness in the Dollar helped to drive up demand for high risk equities and commodities. Tuesday’s move by the Fed to leave interest rates unchanged for a prolonged period of time set the tone for
today’s weakness.

Overnight the EUR USD traded better on increased demand for higher yielding …