Excerpt from: Forex Analysis
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| March 17, 2010 | | U.K. pound higher in currency trading | The sterling continues its rally in forex trading on the currency market today, thanks in part to an improvement in risk appetite. Commodity currencies are higher on gold prices and oil prices, and that is helping the sterling.
Also helping is the fact that U.K. employment data is better than expected, and the fact that the government continues to defend its monetary policy and insist that its deficit is acceptable. All of this points to the idea that the British economy is preparing to recover, and it is helping the sterling in forex trading.
Indeed, the U.S. dollar is struggling in forex trading as somewhat positive news from the Fed on the subject of the U.S. labor market sends investors looking for higher yields. The euro, however, is not joining this forex trading party; instead, it is lower, weighed down by euro zone problems.
| Topic Tags: commodity currencies, currency market, currency trading, economy, euro zone, forex trading, labor market | |
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