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: FX Rates
|  | | November 11, 2008 | | FX trading with major currencies | Yesterday, upon the announcement of the Chinese stimulus package, risk appetite made an appearance and both the U.K. pound and the euro advanced in forex trading against the U.S. dollar.
Today, things are changing a bit. The confidence and initial bump seen yesterday has disappeared, and now the U.S. dollar is taking back some of its losses against euro and sterling in currency trading.
The U.K. pound is especially hard hit right now, thanks to the fact that there is a full-on recession in the British retail sector right now, and that is slowing efforts to get the economy to a point at which it can support the sterling in currency trading.
| Topic Tags: Chinese stimulus package, currency trading, euro forex trading, forex trading, FX trading, major currencies, sterling currency trading, U.S. dollar | |
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