Excerpt from: Forex Forecast
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| May 23, 2008 | | More weakness ahead for the greenback in currency trading? | Yesterday, the US dollar began slumping again in forex trading, and the forecast could be calling for more weakness from greenback in currency trading.
Even though the FX market is relatively calm right now, ahead of housing data, the expectation is that high oil prices and the continued housing slump are likely to weigh on the US dollar. Reuters has a forex trading forecast:
"Consumers in the U.S. are already under stress from
housing, and now...we have rising oil prices. Basically it means
interest rates will remain low in the U.S. despite rising
inflation...and that's one of the reason why the dollar will
remain weak," he added. | Topic Tags: currency trading, dollar weakness, forex trading, forex trading forecast, FX market, greenback currency trading, US dollar forex forecast, US dollar forex trading | |
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