Excerpt from: GFT News
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| June 03, 2009 | | Forex trading with the greenback | After some dollar weakness in forex trading, the greenback is gaining on the currency market. The U.S. dollar is seeing a bit of a rebound against the U.K. pound and the euro in forex trading as concern over the global economy returns to a small degree.
The dollar has been weakening on optimism with regard to global economic recovery, but now it appears to be gaining some degree of strength on the currency market. with concerns about U.S. economic data, as well as corrections by other currencies, the dollar is showing some strength in currency trading as investors consider that the need for a safe haven currency may not be over yet.
Long-term, the U.S. dollar is not expected to remain strong, however. The fundamental support is not there, nor is any lasting technical support.
| Topic Tags: currency trading, dollar currency trading, economic data, forex trading, forex trading greenback, U.K. pound, U.S. dollar | |
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