Excerpt from: Forex News
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| January 13, 2009 | | Greenback strengthens in currency trading |
The U.S. dollar is advancing again against the euro in forex trading this morning. As worries about the global economy persist, the greenback finds strength in currency trading.
Indeed, right now there is very little -- even with economic fundamentals in the U.S. -- that can stop the U.S. dollar in forex trading. Everything seems to be in favor for the greenback:
- The European Central Bank is expected to cut rates on Thursday, keeping the euro down in forex trading.
- Commodities continue to falter, meaning that there is support for the U.S. dollar.
- Stock market performances remain off, indicating risk aversion and flight to safety in the greenback.
Even though the U.S. economy is nothing to brag about right now, it is still considered the most stable economy in the world, and the U.S. dollar is again enjoying a reputation as a safe haven.
| Topic Tags: currency trading, cut rates, dollar forex trading, economy, euro forex trading, forex trading, greenback currency trading, recession, U.S. dollar | |
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