New York Session – July 29, 2010 5:57 PM

The U.S Dollar opened this morning lower across the board based on a Moody’s report which stated “If U.S. government budget projections are realized in coming years, the country’s triple A rating would come under scrutiny”, and went on to say the United States appears to have “no plan” to deal with its fiscal outlook. Keep in mind less than 24 hours ago California Governor Schwarzenegger declared a state of emergency over the state’s finances (current budget is more than a month overdue and billion short) – Finally the spotlight has shined on some of the fiscal issues here in the U.S.
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