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Short Squeeze Brings Down the Dollar
Posted on September 22, 2008
It s only the first trading day of the week, but still we are already flooded with major news one after another nonstop. The US financial system is now being restructured rather drastically, with proposals now underway to convert US investment banks Morgan Stanley (MS) and Goldman Sachs (GS) into traditional depositary banks, and also for US Treasury s Paulson to have unprecedented power when it comes to holding the nation s purse strings. The US dollar lost more ground Monday in forex trading, falling to a 3-week low against the Euro, and a 4-week low against the Swiss franc and the Bri...
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