Dollar subdued on day of Obama’s public inauguration

<p>The dollar is subdued in trading before Barack Obama’s second public inauguration.</p>

The dollar has begun the day's (January 21st) forex trading marginally lower against its key partners the euro and pound, as the world awaits Barack Obama's second presidential inauguration later.

Due to the US Constitution stipulating that the president has to be officially sworn in before January 20th, Mr Obama took his oath in the White House Blue Room yesterday in front of a few witnesses.

Hundreds of thousands of people are expected to gather in Washington DC to view the ceremony, with singer Beyonce Knowles performing the national anthem for what is expected to be a more subdued affair than four years ago.

However, confidence in the Obama administration seems steady, as an NBC/Wall Street Journal survey conducted last week revealed 43 per cent of US citizens were optimistic about the coming four years, while 35 per cent were pessimistic and 22 per cent were ambivalent.

At 09:13 GMT today, the dollar was steady versus the pound and euro, with $1 buying €0.751 and £0.751.

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