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Dollar Finishes Mostly Up but Well Off Its Highs

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Apr 20, 2010.

  1. forextrends24

    forextrends24 New Member

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    Today’s sample of Forex Analysis from ForexHound.com

    The U.S. Dollar finished higher against most major currencies but intraday profit-taking helped the Greenback close well off its highs

    The early session rally in the Dollar began overnight in the wake of a lawsuit filed by the SEC against Goldman Sachs on Friday. Aggressive selling by investors of risky stocks and commodities helped trigger the rally. Weaker equities, gold and crude oil sent a message that risk was going to be taken off the table. Investors have been moving money to less risky, lower yielding currencies since Friday’s surprise announcement on speculation the investigation may broaden.

    After an early session surge, the Dollar weakened throughout the day as commodity and stock indices recovered after anticipated follow-through selling during the New York session failed to materialize.

    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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