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Dollar Finishes at 15-Week High

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Dec 18, 2009.

  1. forextrends24

    forextrends24 New Member

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

    The U.S. Dollar finished at a 15-week high buoyed by debt concerns in Greece and the Fed’s release of more detailed plans to remove excess liquidity from the financial system.

    The U.S. Dollar opened the week lower after Abu Dhabi ponied up $10 billion to shore up the debt of Dubai World. This break was short-lived, however, because speculators bought on the break in anticipation of more hawkish comments from the Federal Reserve. The Dollar remained steady after the Federal Reserve released its monetary policy statement on Wednesday, but soared on Thursday following an S&P downgrade of Greece’s debt. Friday, the Dollar traded mixed as traders alternated between demand for risk and risk aversion.

    Earlier this week, the Fed offered commentary on the economy, saying that deterioration in the labor market was “abating”. This statement was a reaction to the decline in the unemployment rate earlier in the month from 10.2% to 10.0%. The Fed did reiterate, however, that it will keep its benchmark interest rate at a historically low level for “an extended period”.

    Read full article at ForexHound.com as well more Forex Trading articles including Forex Technical Analysis and Forex Education

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