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U.S. Dollar Finishes Mixed in Lackluster Trading

Discussion in 'Forex Daily News & Outlook' started by forextrends24, Aug 24, 2009.

  1. forextrends24

    forextrends24 New Member

    Mar 27, 2009
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    Today’s sample of Forex Analysis from ForexHound.com

    The lack of fresh economic news kept the Forex markets in check most of the day but the U.S. Dollar did post a gain against most majors. The gains and losses were split between relatively lower yielding European currencies and the higher yielding Pacific Rim currencies.

    The EUR USD started the day slightly better led by the performance in European equity markets but turned negative throughout the U.S. session. Fed chairman Bernanke’s upbeat comments on Friday seemed to have worn off with traders instead choosing to focus on the more subdued comments by European Central Bank President Trichet. Thoughts that the U.S. economy was recovering faster than the Euro Zone may have also weighed on the Euro.

    Traders continued to press the GBP USD lower in a move that began August 6th when the Bank of England announced an increase in the funding for its asset-buyback program. This announcement is being perceived as bearish because it is basically a license to print money. Furthermore, the prospect of a huge budget deficit is also being seen as a major negative.

    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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