Excerpt from: GFT News
|
 |
| July 15, 2008 | | Greenback struggles against euro in forex trading | The US dollar is faltering in currency trading this morning as more fallout from the financial sector brings more economic worries to the fore and prompts worried speculation.
The euro is surging ahead in forex trading, reaching a new high -- and psychological benchmark -- above the $1.60 level. In addition, the US dollar is dropping against the Japanese yen and further against the Australian dollar.
Other factors that are affecting the US dollar in currency trading on the FX market are geopolitical factors. However, even with oil prices on the rise and tension in the Middle East, the geopolitics are playing second fiddle to the economic carnage the credit market is wreaking on the US dollar.
| Topic Tags: Australian dollar, credit market, currency trading FX market, euro forex trading, financial sector, greenback forex trading, US dollar currency trading | |
|
|