Disclaimer: Forex trading involves high risks, with the potential for substantial losses and is not suitable for all persons. The views expressed in this blogsite are those of the author(s) and do not necessarily reflect the official policy, position, or opinions of Global Forex Trading. Excerpt from: Forex Forecast
|  | | April 30, 2008 | | Fed rate decision today: has the dollar bottomed out in currency trading? | Today, traders and investors are awaiting a key Fed decision. Indeed, the US dollar has been strengthening in forex trading as the decision approaches. Even though the Fed is expected to cut rates, the body is also expected to announce an end to that policy after today.
This is leading some to think that the dollar may have bottomed out in currency trading. Bloomberg reports on the US dollar forex trading forecast:
``There's a general sense developing in the market that the
Fed might have done enough,'' said Peter Lucas, a global-
investment strategist at Ashburton Ltd., which manages $1.7
billion in Jersey, Channel Islands. ``People are starting to look
for a better time ahead. I'm increasingly optimistic we've seen
the lows for the year and the dollar is bottoming out.'' | Topic Tags: currency trading, dollar currency trading, Fed rate cuts, forex trading, forex trading forecast, US dollar forecast, US dollar forex trading | |
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