MW: Dollar rises on wariness of Geithner rescue plan
The dollar gained against most major rivals Tuesday, after initially falling, as investors were wary of the U.S. bank rescue plan unveiled by Treasury Secretary Timothy Geithner. "Traders have plowed right back into the U.S. dollar on the fear that the U.S. government is rolling the dice once again," said Kathy Lien, director of currency research at GFT. The dollar index , which measures the dollar against a basket of six major currencies, was at 85.170, compared to 84.884 late Monday. The euro was at $1.2985, down from $1.3002 late Monday. But the dollar slipped against its Japanese counterpart, buying 90.66 yen, down from 91.43 late Monday.
