Excerpt from: Forex News
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| August 17, 2010 | | Commodity currencies get boost in forex trading | The Australian dollar is heading higher in currency trading on the FX market today as risk appetite makes an appearance. Commodity currencies are higher in forex trading as optimism returns to the financial market.
While some concerns still remain about economic growth, some of those fears have been eased as economic data beats expectations and as earnings continue to provide some hope that economic recovery can be sustained.
Currencies like the Aussie are doing better in currency trading as commodities, like gold and copper, see an improvement in prices. With the Australian dollar relying on the export of commodities for some of its strength, it is little surprise that it is getting some support from better prices.
| Topic Tags: Aussie, commodity currencies, currencies, currency trading, dollar, forex trading, FX market | |
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