Cautious optimism that US lawmakers would eventually come to some agreement later this week, after Monday's shock rejection of the government $700bio bailout plan, gave the Dollar some steam and powered stocks on Wall Street higher. Also speculation that central banks could cut interest rates eased risk aversion.

The Euro's woes were worsened by news of the bailout of Belgian-French financial services group Dexia by the governments of Belgium, France and Luxembourg. That came after Monday's part-nationalization of Belgian bank Fortis. The Sterling was also hurt as events continued to highlight the international impact of the banking crisis. ...More...


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