New York Session – January 24, 2012 4:14 PM

The dollar rebounded against most of the majors as sentiment faded amid a cut in the global economic outlook by the IMF and unresolved Greek PSI talks. Officials remained hopeful that a deal can be reached, however a debt swap is just one of the many hurdles facing Greece. The IMF cut its forecast for world growth to 3.3% in 2012 from the prior 4.0% projection issued in September (just above the 3% threshold for a global recession).  European equities finished in the red and U.S. stocks declined with the DJIA down about -0.26% while the S&P 500 fell by around -0.10% to close out the session. Full text »

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