U.S. Dollar Gaining Again in FX Trading
Greenback rises against the euro in forex tradingThe U.S. dollar took a breather yesterday in FX trading on the currency market, slowing its rally. Today, though, things are back on track for the greenback — espeically against the euro — in forex trading.
With industrial orders declining in Europe, many traders thought yesterday’s drop overdone, and losses are being erased today. Additionally, the U.S. dollar is gaining against the yen and the U.K. pound in currency trading.
For later today, forex traders will be keeping an eye on the testimony of Ben Bernanke. ActionForex reports on the impact that his remarks could have:
The speech will either keep the dollar rising in the market or deteriorate it as investors turn pessimistic about the financial markets in the U.S.
See Also
- Greenback in Forex Trading
FX trading on the currency market
Original post by Eric J. Fox