Excerpt from: Forex Analysis
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| February 24, 2010 | | Currency trading with the euro | The euro is heading higher in forex trading on the currency market today, due mostly to U.S. dollar weakness.
With the Greeks on strike against austerity measures suggested by the Greek government and European Union policymakers as a way to bring the financial issues in Athens under control, it seems surprising that the euro would be doing well in forex trading. It should also weigh on the euro that gold prices are lower.
Really, though, a lot of the success has more to do with the surprise jump in the U.S. stock market, and the disappointment from dollar bulls about what Ben Bernanke has to say about U.S. economic fundamentals. Apparently, Bernanke isn't ready to push forward with monetary policy tightening, and that is removing some of the recent support for the dollar in currency trading.
| Topic Tags: Ben Bernanke, currency market, currency trading, euro forex trading, forex trading, trading, U.S. dollar, U.S. economy | |
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