12/10/08 - Progress on Auto Sector Bailout Boosts Risk Appetite
Dollar Stumbles Badly Across the Board
Thursday, December 11th, 2008
The US Dollar was pressured overnight and fell further after weak jobs and trade data. It fell 400 pips vs the Euro and Canadian Dollar as traders unwound long Dollar positions. The Swiss central bank cut rates by 50 basis points. The Euro hit a new record high vs the Pound.
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