Forex News: The U.S. Treasury's announcement of help, if needed, for Fannie Mae and Freddie Mac has pulled the USD off its lows, but looking forward the news will do nothing to calm fears over the extent of the unfolding U.S. economic slowdown. says Commerzbank. This will raise speculation that Fed Chairman Bernanke will not be able to toe a hawkish line at Tuesday's key semiannual testimony. Therefore support for the USD will gradually fade, with oil maintaining downside pressure, the bank says
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