Excerpt from: Forex News
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| July 14, 2009 | | U.S. dollar mixed against European currencies | Normally, when the U.S. dollar is involved, the sterling and the euro head the same way in forex trading on the currency market. Today, though, the two European currencies are heading in opposite directions as economic data changes the rules a little bit. GFT's Boris Schlossberg reports on the pound's success in FX360:
Cable was the star of the night reversing all of yesterday’s
losses after much better than expected RICS numbers and BRC Retail
Monitor results indicated that the recovery remains on pace for the
time being. The RICS numbers were especially impressive improving for
the fourth month in a row with London area house prices rising for the
first time in 20 months.
Meanwhile, the euro is struggling in forex trading. Economic data out of the euro zone continues to be somewhat dismal, and signs of economic recovery are far off. Plus, the euro zone countries are all showing dangerously high amounts of debt -- something that is not helping the cause concerning the euro in forex trading.
| Topic Tags: Boris Schlossberg, currency market, euro forex trading, forex trading, FX360, sterling forex trading, U.S. dollar | |
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