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Dean's Forex Blog:

The Pulse of the Forex Market

The Dollar Watch is a graphical representation of my estimate regarding US Dollar strength or weakness before the open of the North American markets. A high number of colored bars would indicate a better position for the USD versus all major currencies. Vice versa a low number of colored bars would indicate a weak average against major currencies.
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Dean's FX

Forex News and Rumors for September 29th, 2008 - Afternoon Update

Posted on September 29th, 2008 at 3:30 pm by Scott Boyd

Not So Fast - Congress Says ‘No’ to Bail Out

Congress votes down the Troubled Asset Relief Act (TARA) by a count of 228-205.

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Stocks Fall on News of Bill’s Defeat

The Dow Jones falls by more than 700 points as Congress rejects the bailout plan.

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Pound Falls Against the US Dollar

The pound took a pounding today as the credit crisis forces government to take over Britain’s largest landlord lender.

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Dollar Falls Against the Yen

It did not take long for the markets to react to the news that Congress voted down President Bush’s proposed rescue plan. The bill’s defeat put predictions of a rate decrease to help prop-up the dollar into overdrive further dampening the dollar.

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Filed under: Forex Trading News and Rumors

« Forex News and Rumors for September 29th, 2008 Are CBanks about to orchestrate a global rate ‘cut’? »
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