Excerpt from: Forex Commentary
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| December 11, 2009 | | Sterling, euro advance in forex trading | Chinese economic data is prompting a return to the risk trade on the FX market this morning. Indeed, the news that China is experiencing solid expansionary forces is helping optimism for global economic recovery. GFT's Boris Schlossberg reports in FX360 on the risk trade:
The news sparked a small bid in high beta FX with euro climbing to
1.4750 and pound recovering the 1.6300 handle as the night progressed.
Cable also benefited from Moody’s announcement that it will not
downgrade UK sovereign debt helping to relieve some of the concerns
that have dogged the pair this week.
This news out of the U.K., that it will retain its Aaa rating for now, is also helping the risk trade. And the latest retail numbers out of the U.S. are also helping risk appetite as investor confidence increases.
| Topic Tags: Boris Schlossberg, euro forex trading, forex trading, FX360, FX market, GFT, risk trade | |
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