US Session – Dollar gains on risk aversion
Posted on November 7, 2012 at 7:02 pm GMTElection euphoria has faded and uncertainty prevails in the markets as the U.S. “fiscal cliff” returns to haunt Obama. After winning a second term in office, Obama now faces urgent economic challenges in the U.S. and has to reach a deal to avert falling back into recession. The so-called “fiscal cliff” involves $600 billion in tax increases and spending cuts which come into effect on January 1 2013. It will be the end of temporary payroll tax cuts (resulting in [..]