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: Forex Forecast
|  | | August 06, 2008 | | Now may be the time for pause in dollar strength | The past couple of days have shown dollar strength in currency trading on the FX market. However, the US dollar forex trading forecast may be ready for a pause in the greenback's rise.
Right now, the euro is turning around in forex trading as ECB governor Trichet talks up eurozone inflation. This is undermining yesterday's Fed rate decision and the rhetoric accompanying it.
Additionally, there are signs that an advance against the Japanese yen in currency trading may be limited. Bloomberg reports on the US dollar forex trading forecast against the yen:
``Technically, there is a sign of dollar buying,'' said
Kinouchi at the unit of Japan's second-largest brokerage. ``The
dollar may be well supported for the next half a month, but the
currency's advance should be limited.'' | Topic Tags: currency trading FX market, dollar strength, euro forex trading, eurozone inflation, Fed rate decision, forex trading forecast, Japanese yen currency trading, US dollar forex forecast, US dollar forex trading | |
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