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Meanwhile, the US Treasury Secretary Paulson said last week in relation to the G7 meeting that "We are watching the value of the Yen very, very closely." JPY took a sharp decline on this news and Paulson carried on to say that he will be talking to the Japanese Finance Minister at next weekend's G7 meeting.

Stock Investing Course (AXcess News) Washington -At a ceremonyin the White House Rose Garden Tuesday, President Bush announced the nomination of Goldman Sachs' Chairman, Henry M. Paulson Jr., as his choice in replacing US Treasury Secretary John Snow who resigned. The markets were down only slightly as the news broke, signaling a "wait and see" attitude on Wall Street to Bush's replacement.

US Treasury Secretary Henry Paulson will speak to today ( 30 GMT) China Relations Conference in Washington D.C. The speech will focus on economic relations with China and should not have a significant effect on the greenback's movement. As the only scheduled US news event on the calendar today, it will be intriguing to see if the greenback continues to strengthen after yesterday's push.

Stock Market Game Snow, who has been Treasury Secretary since February 2003, was ridiculed by lawmakers over his view towards China's economic policies. Members of both political parties had expected the Treasury Secretary to call China a currency manipulator. Instead, when the US Treasury released its six-month report, Snow told members of Congress that China needed time to adjust its central bank thinking and that trade policies would have to change. But he fell short of calling for penalizing China and that is what roused lawmakers the most.

Treasury Secretary Henry Paulson and Vice Premier Wu Yi announced agreements including lifting a freeze on foreign firms entering into China's securities industry, as well as, increasing the quota allotted for international investors to purchase stocks usually reserved for domestic buyers. Look for the dollar to remain fairly supported as the market is starting to shrug off any potential rate cut from the Fed.

Stock Investing Game Snow's exit from the Bush administration was no surprise after the President replaced his White House Chief of Staff Andrew Card with Josh Bolten. Bolten used to work for Goldman Sachs and most likely played a key role in recommending Paulson as Snow's replacement.

the GBP. This depreciation of the USD, however, did not last much further, as Treasury Secretary Henry Paulson, a well known advocate of a strong dollar, came to its rescue.

Journal Prime Rate Street Wall Snow and Paulson were friends. Outgoing Treasury Secretary Snow called Paulson "a very able executive, a friend of mine," as he thanked Bush for his time in the Cabinet.

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Stock Market News So far, President Bush has replaced his press secretary, the CIA Director and cut Karl Rove's duties back in an attempt to improve his administration. Bush's nomination of Paulson must now go before the Senate for approval.

Stock Investing Basics The Senate Banking Committee is expected to act swiftly in approving Paulson as US Treasury Secretary.

Stock Investing Software President Bush said this morning at the White House ceramony, "Hank Paulson has an ability to explain economic issues in clear terms."

Stock Market Trading Paulson hinted at a "get tough" approach to global trade and the US economy when he said, "We cannot take it [the economy] for granted. We must take steps to maintain our competitive edge in the world."

Stock Investing For Dummy Senator Chuck Schumer (D-NY), a member of the Senate Finance Committee, called Bush's selection of Paulson "the best pick America could have hoped for."

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