Dollar falls on rebound after post-Greenspan rally
he dollar continued to drop against major currencies in a rebound from gains which came in the wake of hawkish comments from US Federal Reserve chairman Alan Greenspan. Today, market participants are awaiting the second day of Greenspan's testimony -- a Q&A session between the Fed chairman and Senate committee members. Greenspan's confirmation yesterday that US interest rates will continue rising initially propelled the dollar before it succumbed to profit-taking later -- the euro being the main beneficiary -- as many considered the good news to be priced in already.
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