Excerpt from: Forex Analysis
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| December 17, 2009 | | Greenback surges higher in forex trading | The U.S. dollar is gaining across the board this morning as investors take yesterday's Federal Reserve policy statement, delivered by Ben Bernanke, as a cue to rally on the fundamentals.
Bernanke expressed confidence that things are improving in the economy, and that they will continue to improve. Additionally, he began laying the groundwork for an exit strategy from economic stimulus measures. This was taken as an indication that, fundamentally, things should be better for the economy going forward.
Also helping the dollar was worse than expected news out of Britain. While the labor market has shown improvement, British retail sales were awful, and that is weighing on the sterling today in currency trading. The euro is also floundering in forex trading, and dollar strength is sending both oil prices and gold prices lower.
| Topic Tags: Ben Bernanke, currency trading, economy, euro forex trading, Federal Reserve, forex trading, gold prices, greenback forex trading, sterling, U.S. dollar | |
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