The dollar ended the week higher against most major currencies as risk aversion pressured risky assets. European Central Bank President Jean-Claude Trichet stated that the ECB will withdraw emergency cash gradually and tighten the standards under which it accepts newly issued asset-backed securities as collateral from banks for its refinancing…
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European Markets Drop On ECB Withdrawal
European Trade: European shares moved lower in trade on Friday trade, following the Asian equity market that closed in the red. S&P futures moved side-ways throughout the overnight trading hours, but dropped eight points as the news that the ECB will withdraw their cash liquidity from the market over the…