Excerpt from: Forex Forecast
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| July 22, 2010 | | U.S. dollar in forex trading | The U.S. dollar is softer in forex trading on the currency market today, following remarks Ben Bernanke made yesterday concerning the uncertain state of the U.S. economy.
The news is a blow for U.S. fundamentals, as concerns about a double dip recession start to bubble to the surface. Contrast the uncertain economic data in the U.S. with the improving data seen in the euro zone, and there is a recipe for a lower U.S. dollar forex trading forecast.
Even if the uncertain path of U.S. economic recovery were smoothed, the U.S. dollar would still face challenges. Rising public debt, along with optimism about the euro zone and risk currencies, would encourage forex traders to look for higher returns elsewhere, preferring other currencies to the U.S. dollar.
| Topic Tags: Ben Bernanke, currency market, economy, forex traders, forex trading, forex trading forecast, risk currencies, U.S. dollar | |
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