by Mon, 21 Mar 2011 14:51:00 +0100
Forex: Dollar rallies after Treasury announces sales of MBS
FXstreet.com (Barcelona) - The US Dollar has jumped higher across the board, coming off lows against Euro and Pound after the Treasury Department announced its plan to sell its portfolio of Mortgage backed securities purchased during the crisis.
GBP/USD rally from 1.6200 day low has been capped at 1.6295, and the pair eased to 1.6250, while the EUR/USD rebound from 1.4150 was halted at 1.4200 area again, and the pair spiked down to 1.4140 day low. USD/JPY bounced from 80.95 to 81 30, yet at levels within the day's range,
The Treasury Department announced on Monday its plan to sell its portfolio of $142 billion Mortgage Backed Securities, selling up to $ 10 million MBS per month, according to sources by the commerce Department.
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