U.S. Dollar Down in FX Trading
Sterling, euro in forex trading
The U.S. dollar is down again today in FX trading on the currency market. Yesterday’s spectacular stock market rally, along with predictions of better performance the latter half of this year, sent risk appetite soaring. This meant that the U.S. dollar was not needed as a safe haven.
Earlier today, in overnight FX trading, things got a little better for the greenback. Sterling and euro fell back as the risk rally took a breather. However, both the pound and the euro are higher right now in forex trading as JP Morgan’s profit report continues to bode well for banks.
As long as investors and forex traders feel good about recovery — or at least the cessation of the recession, the U.S. dollar is likely to remain down in FX trading.
See Also
- Dollar, Sterling and Euro in Forex Trading
FX trading on the currency market