Excerpt from: Forex Analysis
|
 |
| October 27, 2008 | | Forex trading with the greenback | The U.S. dollar rally continues in currency trading on the FX market this morning. Thanks to general weakness overseas, and to worries of an eminent global recession, the dollar is gaining in FX trading on safe haven status.
The U.K. pound and the euro are both dropping in forex trading against the greenback as word of possible rate cuts becomes more pronounced. Additionally, with risk aversion high, investors and traders are fleeing to the U.S. dollar, which is seen as the most stable of currencies -- despite the economic problems afflicting the U.S.
It is a measure of how badly the rest of the world is doing when the troubles in the U.S. are seen as manageable and less of a problem than the troubles elsewhere.
The only major currency gaining against the U.S. dollar right now is the Japanese yen.
| Topic Tags: currency trading FX market, dollar forex trading, euro forex trading, forex trading, forex trading greenback, global recession, Japanese yen, U.S. dollar currency trading, U.S. dollar rally, U.S. economy | |
|
|
