Excerpt from: Forex Analysis
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| August 30, 2010 | | Currency trading with the U.S. dollar | The U.S. dollar is mixed in forex trading on the currency market today. The U.K. pound is moving higher against the U.S. dollar right now, as is the Japanese yen. The yen's strength comes in spite of the latest move by the Bank of Japan to expand its quantitative easing program in an attempt to slow yen appreciation.
Greenback is higher in currency trading against the euro, though. This is a little surprising, since confidence in Europe is on the rise. Many had expected the euro to get a bit of a boost. However, problems like tight credit, unemployment and sovereign debt continue to plague the euro in forex trading. Greenback is also higher against the Australian dollar.
It will be interesting to see how things go today. More economic news is expected, and forex traders will be waiting to see what the Fed has in store for the economy, after Friday's promise from Ben Bernanke to shore up the U.S. economy.
| Topic Tags: Ben Bernanke, currency trading, euro forex trading, forex traders, forex trading, Japan, U.S. dollar | |
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