Excerpt from: Forex Forecast
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| September 22, 2008 | | Down under currencies and FX trading | The Australian dollar is surging ahead right now in forex trading on the currency market. Indeed, the forecast for the down under currencies in FX trading is showing some strength for the near term.
Right now, the $700 billion Wall Street bailout plan is seen as positive for risk appetite as traders seek high yielding currencies. This is boosting the yen carry trade with down under currencies. However, the Australian dollar and New Zealand dollar forex trading forecast for the long term may be different.
If things change for the U.S. dollar outlook, it is quite possible to see downward pressure in the future on the Aussie and the kiwi, reports the news.com.au:
Mr Morriss said the Australian dollar could face downward pressure
if the US Congress proposes aspects of the plan be admended, before
allowing it to pass.
"There does seem to be uncertainty over what the final form will be and what the add-ons will be," he said. | Topic Tags: Australian dollar forex forecast, currencies FX trading, currency trading, down under currencies, forex trading forecast, yen carry trade | |
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