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: Foreign Exchange Rates
|  | | August 04, 2008 | | Currency trading with the Aussie | The Australian dollar is dropping in FX trading this morning as traders wonder about the rate decision coming up for the central bank.
While the interest rate has remained the same (at a high of 7.25%) the last three times, the currency market has been looking to rhetoric from officials for direction.
Currency trading with the Aussie should consider that it has been very strong over the past few months, and that in the FX market, that could mean a dramatic drop.
Pair that with the worries that many have over the direction the central bank is taking the Australian dollar, and it calls for caution in FX trading.
| Topic Tags: Australian dollar FX trading, central bank, currency market, currency trading, currency trading Aussie, FX trading, interest rate | |
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