Dealers note talk in the market that Secretary Geithner said that the dollar would weaken as the economy recovers. Not sure where this is meant to have taken place but it has gotten the market’s attention. EUR/USD has rallied to 1.3990 and USD/JPY has lumped to 94.70 on the talk.
Update: Just crossing the wires are comments from the Treasury regarding Geithner’s trip to China. He will meet with Hu and Wen, the president and PM, respectively for two days of talks on how the US and China can promote global recovery.
Geithner speaks in Boston later today on community redevelopment, an unlikley forum for dollar comments…
