USD Trading Outlook (25-01-2012)
U.S. Dollar Trading (USD) volatility returned to the market overnight with the EU finance ministers rejecting the Greek bondholders 4.0% coupon demand on a debt swap. Stocks dropped in Europe and in the US and helped the Dollar gain on safe haven demand. The dip was shallow though and most markets pared losses into the end of the session. In US stocks, DJIA -33 points closing at 12675, S&P -1 points closing at 1314 and NASDAQ +2 points closing at 2786. Looking ahead, FOMC Interest Rate meeting forecast to hold at 0.25%. Focus on the FOMC Statement and Press Conference afterwards.
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