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US banking sector and worries about US economy put Dollar under pressure

The Dollar was little changed on Monday as more banking sector stress added to worries about the US economy, overshadowing a Group of Seven warning on the threat sharp exchange rate moves pose to financial stability. A surprise first-quarter loss at Wachovia Corp, the fourth-largest US bank, suggested more credit market turmoil ahead, prompting traders to sell Dollars, mostly against the Euro…

Original post by Jean-Claude Braha

This entry was posted on Monday, April 14th, 2008 at 6:00 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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