Excerpt from: Forex News
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| December 24, 2008 | | Some of the currency market stories today | Right now, the biggest forex news is that risk appetite is out. Hardly anyone wants to take a risk today, ahead of the Christmas holiday. As a result, consolidation is the name of the game today. Here are some other quick tidbits of what is happening on the currency market today:
- Yen is gaining against the U.S. dollar as falling equities make the yen attractive as a safe haven.
- U.S. dollar dropping against euro in forex trading as economic data in the U.S. continues to show weakness.
- Euro approaching parity with the U.K. pound as sterling feels the pressure from a worsening economy.
- Russian ruble is devalued again as the financial situation in Russia continues to deteriorate.
- Swap deals with Japan, China and the U.S. help the South Korean won make some gains in currency trading.
| Topic Tags: currency market, currency trading, economy, euro forex trading, forex news, forex trading, Russian ruble, swap deals, U.K. pound, U.S. dollar | |
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