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U.S. Dollar Closes Week Higher Despite Volatile Euro

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Apr 23, 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 finished the week higher despite volatile trading action in the Euro. The Greenback closed decisively higher against the Euro, Swiss Franc and Japanese Yen while ending up lower against the New Zealand Dollar. The Dollar ended up almost flat versus the British Pound, Australian Dollar and Canadian Dollar.

    The U.S. Dollar opened the week trading higher against most major currencies except the Japanese Yen as traders sought shelter in lower yielding assets following the April 16th news that the SEC was charging Goldman Sachs with defrauding investors.

    The developing situation was wreaking havoc on commodity-linked currencies since Goldman is a major player in this type of market. Traders were also taking protection against the possibility that this SEC investigation would involve other major investment banking firms. This is also coming at a time when the U.S. government is pushing hard for more financial firm restrictions. The U.K. and the E.U. were also reportedly ordering their own investigations into Goldman’s practices.

    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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