The dollar index yesterday spent most of the day on the back foot and ultimately gave back all his substantial gains returned made on Tuesday, as risk appetite and saw US shares climb after Friday's defeat. What began as a quiet day in Asia and Europe and looked around to set are, as a day which mild consolidation after Friday's sharp increase got only moves in the US session if U.S. stocks higher on the back of the largely better than was expected profit. When investors bought back in riskier and FX came the dollar under pressure. As the euro and Yen important levels yesterday approached players seemed missing the impulses that Buck currencies higher against the buck that drive is certainly a positive sign for the dollar. About night Treasury Secretary Geithner has provides support for the dollar, after he told the WSJ in an interview that currencies are "in direction now", suggesting that he sees no need for the dollar to fall further against the euro and yen. Despite yesterday's pretty brutal losses for the index we still claim that the dollar index should continue to win as the market now starts in a smaller or more muted second round of quantitative easing by the Fed. We feel that Geithner's comments about night launch again could these gains on sale on Thursday. Written by Jonathan Granby, research will be added team if you want to keep Joel reports in a more appropriate Mode-e-Mail-jskruger@fxcm.com and DailyFX to the distribution list. When you visit this or any other subject feel to free our forum page want to discuss.DailyFX provides Forex News on economic reports and political events that influence the currency market.
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