Timothy Geithner is still in his tries to store the confidence in the US economy ability to recover but this time in Arabian Gulf countries, he has announced that US is still underpinning the greenback with change of this policy. Timothy promised that US would pursue policies for keeping the dollar's value yesterday. The gulf countries are holding a great deal of their reserves in the greenback and the US assets and debits and losing confidence in the US recovery can make them thinking in other options seriously which can threat the US creditability further. The recent US easing policy steps in the face of the credit crisis have had many criticisms from the holders of these USD back securities as they hurt the US treasuries attractivness which  were the first option of the Fed's quantitive easing policy by offering an exchange of them by the mortgages back securities which caused the financial problem and became known as toxic assets which can poison the US creditability itself and they are still the Fed's preferred way to pump funds and easing by its adopted quantitive easing policy after losing the cutting interest rate tool to afford the required liquidity for the government to clean the banks balances sheets and to spur growth again to cover its debits.

The greenback is still under pressure as the US stocks market could hold its gains yesterday. Dow could add 27 points more and S&P could close above 900 again up by .53% at 905 as the strong earning reports from Goldman Sacks and Intel could keep the investors' risk appetite increasing their hopes of recovery.

The single currency which is hurt by July Germane ZEW current industrial conditions exacerbating to -89.3 and they were waited to improve to -85.8 from -89.7 in June and the ZEW economic sentiment falling to 39.5 in this same month and it was expected to be 45.5 from 44.8 in June could break above 1.40 right now as the European stocks could follow the US green closing and the US stocks indexes future are up.

The rise of the US stocks could cap the greenback appreciation yesterday. The greenback has been boosted recently by the diminishing of the investors' risk appetite and cautiousness by the earning reports releases of the second quarter after dovish consuming data started with June US consumers confidence survey to 49.3 and it was expected to be 57 and ended last week with the release of US July consuming sentiment survey of University of Michigan preliminary reading which came down to 64.6 and it was expected to be 71 which have been read as a new wave of losing trust in the US waited recovery because of this credit crisis.

The pressure on the stocks markets continued to push the Japanese yen up across the broad getting benefits from the unwinding of the carry trades transactions in the favor of the low yielding currencies such as the greenback and the Japanese yen which has an interest rate at just .1%. Nikkei 225 is still under pressure 107 points until now trading at 9313 and it could not follow the US stocks rebound again today negatively impacted by the strong yen which can hurt the Japanese exports at this time of sluggish global demand which effected negatively on the Japanese Tankan survey of the big manufacturers of the second quarter which came last week at -9.4% and it was expected to be 6.9% putting further pressure on the Japanese stocks which have been hurt by a furry of disappointing data from US started last week with falling of June US consumers confidence survey to 49.3 and it was expected to be 57.