As what CNBC has shown, the bailout package for Europe is about 1 trillion! Does that sound familiar? I remember vaguely about the 700 billion bailout package about 1 year ago in USA and it has lead the market-dollar rally till now.
Anyway, this bailout package has caused the dollar to plunge massively to around S$1.377 which is near the initial FX rate I changed.
Currently with the US markets opened, it was up at 400+ points but right now at 9.49pm, it has only around 260+ points gained for Dow. Quite an exciting night though for the market as we embrace this bailout package..
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