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|  | | August 05, 2008 | | Forex trading with the greenback | The US dollar is gaining against the majors in currency trading on the FX market today. Forex trading with the greenback should consider its strength, especially against the euro this morning.
Right now, the US dollar is deriving strength from two main factors:
- Worries about demand have oil prices in something of a freefall, with prices below $120 a barrel.
- The Fed will announce its interest rate decision today at 2:15 Eastern, and things are expected to remain steady. However, the Fed is also expected to announce a concern over inflation, which should serve to raise expectations of a rate increase in the near future.
| Topic Tags: currency trading FX market, Fed, forex trading euro, forex trading greenback, interest rate, oil prices, US dollar currency trading | |
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