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  1. #1
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    ACM Currency Trading is offline Senior Member
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    Sep 2008

    Default Forex - Dollar rises as Obama win help US economic outlook

    The Dollar rose against a basket of major currencies on Wednesday after posting its biggest one-day slide in 13 years the previous day, as Democrat Barack Obama won the US presidential election. The Dollar was also helped by news that the Democrats expanded their majorities in both chambers of the US Congress in Tuesday's election to position themselves to quickly act on much of the US president-elect's ambitious agenda.

    On Tuesday, the Dollar dropped posting its biggest one-day slide against the Euro since that currency's 1999 launch, as investors bet that global interest rate cuts and a credit market thaw would revive world growth.

    Royal Bank of Australia surprised markets with a 75bp interest rate cut on Tuesday, while the European Central Bank and Bank of England are expected to reduce rates on Thursday. Analysts said the Euro was benefiting from the Aussie's comeback, with the prospect of further large interest rate cuts from the ECB and BoE seen as stimulant to their respectiv ...More...

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  2. #2
    Beakon is offline Junior Member
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    Nov 2008


    Yeeeaaaa Obama!!

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