Dollar Rallies Sharply as the Risk Drift Stalls, Euro Tumbles

This past session’s price action is a good reflection on how the US dollar doesn’t simply garner direction through scheduled event risk. The greenback is tied into larger fundamental themes. As such, talk from Fed Chairman Bernanke about the possibility of (need for?) stimulus, another shock in jobless claims and rapidly deteriorating consumer sentiment wouldn’t sway the currency from its market-wide advance.

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