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Banks: The Flight to Safety May Need a Lifeboat
Posted on July 05, 2009
Forex markets are rolling around from day to day at the beck and call of equity market direction, and the dollar is bought as a hedge against those negative stock days. But the flight to safety may have to be reviewed, because overseas 'safety' may be far more appealing. Maybe the dollar and Wall Street will abide by new rules post-credit crisis.The banking sector in the U.S. does not compare in any way to the safety of overseas banks in regard to long term bank deposit and foreign exchange currency ratings from Standard & Poors, Fitch, and Moody s. The top 50 globally rated banks from...
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