Forex Blog: Currency Trading News & Analysis.

Marketplace

  • Forex
  • Advertise here

Features

Search Forex Blog

Helpful Links

Contact

July 23rd 2008

Dollar Intervention Loses Support

Some analysts are surprised by the evident unwillingness of Central Bankers to intervene on behalf of the Dollar, especially considering how common such "rescue plans" are becoming in other corners of the financial markets. Over the last couple months, all of the momentum that was previously behind intervention has gradually evaporated, such that at the recent G8 Summit, currencies were hardly even discussed. This is somewhat ironic considering the Dollar has resumed its downward trend, and even touched an all-time low against the Euro. Treasury Secretary Henry Paulson and Fed Chief Ben Bernanke aren’t willing to completely write off intervention, however. Both have commented explicitly that it is still being mooted as an option. Nonetheless, the current consensus among analysts is that unless the Dollar completely collapses, it’s not likely. The Associated Press reports:

"It would take a rare set of circumstances to get the U.S. right now to intervene," said David Gilmore, a managing partner in Foreign Exchange Analytics in Essex, Conn.

Read More: Don’t count on ailing-dollar bailout

SocialTwist Tell-a-Friend
Posted by Adam Kritzer | in Politics & Policy, US Dollar |

FREE Daily Email Updates

Enter your email address:

Delivered by FeedBurner

Share Your Feedback on This Story

Related News

Neighboring Posts

FREE Daily Updates

Enter your email address:

Delivered by FeedBurner

Subscribe

Add to Google
Add to My Yahoo!
Add to MyMSN
Subscribe at NewsGator Online
Subscribe at Bloglines
RSS Feed

© 2004 - 2009 Forex Blog.org. Currency charts © their sources. While we aim to analyze and try to forceast the forex markets, none of what we publish should be taken as personalized investment advice. Forex exchange rates depend on many factors like monetary policy, currency inflation, and geo-political risks that may not be forseen. Forex trading & investing involves a significant risk of loss.