Dollar little changed versus euro after China plan
Reuters, Monday November 10 2008
By Vivianne Rodrigues
NEW YORK, Nov 10 (Reuters) - The U.S. dollar was little changed against the euro on Monday after falling earlier in the session as news of a large economic stimulus package from China made some traders more willing to take on risk.
Courtesy: sneijers.net
Initial optimism quickly faded, however, as U.S. stocks surrendered early gains on concerns that China's plan may not be enough to help avert a global recession, helping the safe-haven yen regain some strength versus the greenback.
China launched an economic stimulus package on Sunday worth nearly $600 billion in what could mark the start of a round of big spending or interest rate cuts to stave off a recession in many countries.
"The initial reaction to the announcement … to read the full story, please follow this link:
Courtesy: UK Currency | Reuters
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