Excerpt from: GFT Analysts in the News
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| July 11, 2008 | | Euro gains against the US dollar in currency trading | The euro is on the rise in forex trading, making weekly gains against the US dollar. In currency trading, the euro is being supported as the dollar struggles.
While the eurozone is seeing some inflation, and this is helping the euro a little bit, most of the euro's gains are actually attributed to the US dollar, which is facing some weakness as financial market turmoil continues.
Bloomberg reports on the euro in forex trading:
``The nervousness about the U.S. financial sector has
caused to destabilize the dollar,'' said Jeremy Stretch, a
senior currency strategist in London at Rabobank International,
the third-largest Dutch bank. ``This has helped euro bulls to
get back the ascendancy.'' | Topic Tags: currency trading, dollar struggles, euro forex trading, eurozone inflation, forex trading, US dollar currency trading, US dollar weakness | |
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