Once again the US automaker bailout is in the news and interbank Forex markets are reacting. The white house and congressional Democrats reached a deal that on a $15 billion dollar deal that would bailout and restructure the big 2 automakers.
Markets Up
The news bolstered global shares on world stock markets by 0.78%. The interbank Forex market quickly reacted and b the US dollar fell against the Euro and the Japanese Yen fell broadly. “The market is focusing very much on the bailout deal for automakers,” IDEA global senior strategist Maurice Pomery said. “We’re seeing a bit of a short squeeze that is pushing the yen lower,” he added
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