Excerpt from: Forex Commentary
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| September 02, 2010 | | Dollar weakness on the currency market | The euro is maintaining its gains in forex trading on the currency market today. The ECB announced that it is keeping interest rates steady for now, and forex traders expect Jean Claude Trichet to announce that liquidity measures will remain in effect through the end of the year.
U.S. dollar weakness is as much to blame as euro strength, though. Economic news out of the U.S. recently has not been of the kind to help strengthen the greenback on the currency market, and forex traders have been anxious to go elsewhere.
It will be interesting to see how EUR/USD does after the release of more U.S. data, and after Trichet's policy announcement later today.
| Topic Tags: currency market, dollar weakness, euro forex trading, forex traders, forex trading, Jean Claude Trichet, U.S. dollar | |
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