Excerpt from: Forex News
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| April 17, 2009 | | Asian currencies up in forex trading on the week | Asian currencies are gaining as risk appetite increases. There is a general feeling of optimism about the global economy and that the recession might be receding. Profit reports from companies like JPMorgan and other banks are fueling the optimism that the financial crisis may be coming to an end.
As a result of this optimism, risk appetite is increasing. Emerging market currencies in Asia are benefiting quite a bit from the situation. As forex traders become willing to take more risk, they will move out of the U.S. dollar and into less safe currencies, like the rupiah and the won.
However, the U.S. dollar is still doing well against other developed currencies, gaining today against the sterling, yen and euro.
| Topic Tags: Asian currencies, currency market, currency trading, emerging market, forex traders, forex trading, risk appetite, U.S. dollar | |
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