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Dollar Finishes Weak against Most Majors

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Aug 20, 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 lower against most major currencies. Today’s weakness was triggered by a follow-through rally in the equity markets which led to renewed interest in higher yielding assets.

    The EUR USD finished up on Thursday. Volume was light but traders nonetheless were interested in the long side of the Euro as U.S. equity market racked up gains throughout the day. The main trend is down in this market, but the action the past few days indicates that buying may be greater than the selling at current levels.

    Concerns over the growing U.K. deficit kept downside pressure on the GBP USD throughout the day. This currency pair attempted to rally several times along with the other currencies but each rally was met with selling pressure as some investors focused on the fundamentals.

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

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