Dollar Strengthens, Commodities Slip

By IBTimes Staff Reporter | January 28 2010 9:23 PM

Overview

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U.S. equities managed to limit some of their earlier losses due to strength in the in the financial sector. The Dow Jones Industrial Average looks as though it will close at around 10,150 after dropping as low as 10,055 earlier in the trading session. The S&P is off 11 points but the worst weakness was in the tech sector, with the Nasdaq off over 1.5% on the day. Apple takes most of the heat for that move, as investors booked major profits from the tech giant's recent monster run above $200.

In terms of currencies, traders are witnessing a back and forth struggle between dollar bulls and dollar bears. With the FED's statement yesterday not really providing much direction, price action seemed to wobble within recent trading ranges.

EUR/USD