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Demand for Risk Continues to Pressure U.S. Dollar

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Jul 21, 2009.

  1. forextrends24

    forextrends24 New Member

    Mar 27, 2009
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    Today’s sample of Forex Analysis from ForexHound.com

    Although all of the major Forex markets remain inside of their June to July ranges, today’s action indicates that there is still strong demand for higher risk assets.

    Today’s market opened as if the U.S. Dollar would strengthen all day. Buoyed by an opinion article by Fed Chairman Bernanke in today’s Wall Street Journal, the U.S. Dollar opened higher. It remained firm throughout the day during the testimony of Bernanke before the Financial Services committee.

    Once today’s testimony concluded and traders assessed the damage if any, the Dollar weakened substantially into the close as trader once again sought after higher-risk, higher-yielding assets. The strong surge in the equity markets helped erase almost all of the Dollar’s gains against every major currency with the exception of the Japanese Yen.

    Read full article at ForexHound.com as well as Forex Analysis, Forex Education and exclusive timely market Gann Analysis

    Disclaimer: Trading foreign exchange on the margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore should not invest money that you cannot afford to lose.

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