G7 Meeting Outcome and Senate Vote
February 13, 2009 by admin · Leave a Comment
Currency traders reduced their long positions in the US dollar and Japanese Yen ahead of the Senate vote on the Economic Stimulus Package and the G7 meeting. Holding forex positions over the weekend always exposes traders to gap risk and with the outcomes to 2 major events expected before the market reopens on Sunday the risk is even greater. Although the US equity and bond markets are closed on Monday for Presidents Day, we could still see an active trading session depending on how the market reacts to the G7 statement and the passage of the Economic Stimulus bill.
