Dhaka, Bangladesh (BBN)- US markets saw a day of swings, as losses from the healthcare sector were pared by comments from Nobel Prize winning economist Paul Krugman that the recession may ease by this year. The Dow closed the session 1.36 points higher at 8,764.49.
The US Dollar (USD) rose to a one week high against the Euro (EUR) as widespread recovery optimism led to expectations of interest rate hikes by the Federal Reserve this year. USD touched 1.3806 against EUR.
The Pound (GBP) touched a weekly low of 1.5803 against the Greenback on continued efforts to eject Prime Minister Gordon Brown.
The GBP was pressured lower by former BoE policymaker David Blanchflower’s outlook of increased money printing to fund government purchase of assets in an effort to combat contraction, according to reports.
BBN/SS/SI/AD-09June09-12:37 pm (BST)