March 22, 2010

Stock Market Rally Helps Erase Early Dollar Gains

A turnaround in U.S. equity market pressured the Dollar on Monday as traders sought risk in higher yielding assets. Overnight, the Dollar traded weaker, driven down mostly by traders
taking protection in the lower yielding Dollar and Japanese Yen

The Dollar erased earlier gains and was under pressure most of the New York trading session after U.S. equity markets rallied as Wall Street celebrated the passing of the health care
reform bill. The inability to follow-through …