Excerpt from:  Forex Analysis
.
December 31, 2007

Forex Trading Strategy: U.S. Dollar

Currency trading with the greenback

Forex trading strategy for the U.S. dollar should consider that it is likely to remain on the back foot for some time, even after the recent surprise boost in housing data. The economy is still in a bit of a slowdown, and overall the dollar index is dropping. AFP reports on the future of currency trading with the greenback:

"The US dollar remains entrenched in an end-of-year downtrend," said John Noonan, analyst at Thomson IFR.

"The market is convinced that the weak US data of late will force the Fed to lower rates aggressively in 2008 and this is undermining the US dollar overall."

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Topic Tags:  currency trading, currency trading greenback, dollar index, forex trading, forex trading strategy, forex trading U.S. dollar, trading strategy dollar, U.S. dollar

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