Excerpt from: Forex Commentary
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| November 30, 2009 | | Euro in forex trading | The euro is paring its recent gains against the U.S. dollar in currency trading on the FX market this morning. Overnight, the euro gained in forex trading as news about Dubai turned out not to be such a huge deal as originally thought.
However, things are not moving back into true risk appetite. Indeed, forex traders are backing away from the risk trade that they had begun embracing earlier. For now, the euro is lower against the U.S. dollar in currency trading as the greenback consolidates its gains from the end of last week.
It will be interesting to see how things unfold going forward. Dollar weakness is ultimately expected against the euro in forex trading, but that could be some ways off as forex traders warily re-enter the risk trade.
| Topic Tags: currency trading, dollar currency trading, Dubai, euro forex trading, forex traders, forex trading, FX market, U.S. dollar | |
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