Foreign Exchange Outlook : US dollar exchange rate is on the defensive
The US dollar exchange rate is on the defensive and may suffer more position-paring today as risk aversion fell back on the prospect of a housing market rescue initiative from the Obama administration that pushed stocks into a late-day rally. The G7 meeting starts today with a high probability of some shocking statements from finance ministers and other officials, although the actual communiqué tomorrow is not expected to contain anything new.
Pounds to US Dollars = 1.4400
Pounds to Euros = 1.1174
Euro to Pounds = 0.8947
Bye For Now
Barbara Rockefeller
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