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U.S. Dollar Finishes Mixed as Demand for Risky Assets Subsides

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Sep 17, 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 mixed against most major currencies on Thursday as investor demand for higher yields subsided after a strong three day rally.

    The EUR USD finished a little better today in light trading. Although the U.S. economy appears to be leading the global economy out of the recession, investors have been seeking the higher yields in the Euro. Traders should continue to focus on the retracement level at 1.4622. Holding above this level could help accelerate this market to the upside. A failure to hold this level will indicate impending weakness.

    The British Pound remains one of the weakest currencies because of the faltering U.K. economy. High unemployment, weak consumer demand and a floundering real estate market continue to put pressure on the GBP USD. One of the biggest concerns of traders remains the size of the U.K. budget deficit.

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

    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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