Excerpt from: GFT News
|
 |
| October 22, 2008 | | Greenback gaining in forex trading | The U.S. dollar is seeing yet another rally in currency trading on the FX market. Major currency pairs are trending lower as the greenback gains more solid footing in forex trading. The dollar has been oversold lately, and now things are heading back in the other direction as dollar hoarding continues.
One of the reasons that the dollar is doing so well in FX trading -- despite the condition of the economy -- is due to the fact that other economies are in just as bad shape. Indeed, because the U.S. economy has been seeing trouble for longer, it is seen as being closer to recovery.
The U.S. economy is expected to be on the road to recovery, while economies in the euro zone, Britain and Australia are just barely (relatively speaking) finding themselves going down. On top of that, things are so volatile, thanks to the global financial crisis, that the U.S. economy is seen as the most stable right now.
| Topic Tags: currency trading FX market, dollar FX trading, euro zone, global financial crisis, greenback forex trading, U.S. dollar currency trading, U.S. economy | |
|
|
