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Dollar Finishes Mixed in Dull Trade

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Feb 22, 2010.

  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 traded mixed in a tight and narrow range. The trade weighted Dollar Index finished slightly lower after confirming last Friday’s closing price reversal top.

    The lack of major U.S. economic reports on Monday helped hold the Forex markets in a tight range as investors awaited testimony later in the week from Fed Chairman Bernanke. His comments should move the markets especially if they come after a few days of range bound, directionless trading. His testimony before the House Financial Services Committee is expected to be about employment growth prospects and whether fiscal stimulus is needed.

    Traders will be looking for Bernanke to give them clues about the timing of future U.S. interest rate hikes. In addition, he may be asked to explain why he hiked the discount rate last week.

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

    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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