The dollar has been steadily climbing against most other major currencies in the last few weeks. The greenback is certainly not making miraculous gains but it has held firm and pushed back against rough economic odds. The $789 economic stimulus plan finally went through Tuesday (February 17), but investors did not appear impressed as the Dow dropped by nearly 300 points.

The Dollar initially lost ground yesterday but recovered in late trading as forex markets shrugged off a delay to the much anticipated U.S. bank bailout announcement.

OF SIX CENTRAL BANKS voting on interest rates this week, only the European Central Bank in Frankfurt failed to reduce its cost of money to either record or multi-year lows, holding rates steady at 2.0%.

The USD may further extend its gains against the EUR today; on speculation that growing evidence of a global slowdown will increase the appeal of the U.S currency to traders as a safe-haven.

The USD is continuing in two-way action as the majors continue to consolidate off their weekly lows; traders note conditions remain thin and the lack of US fundamentals are keeping some sidelined ahead of the FOMC rate announcement tomorrow.

The big news for the USD this week appears to be the continuation of its recent rally. Approaching 1.3400 against…

The Euro slid back below $1.40 in New Year’s Day trade as some analysts predict a dramatic slump for the…