U.S. Dollar Gains as Risk Appetite Dissipates
The U.S. dollar is gaining in forex trading on the currency market today as risk appetite dissipates. One would expect that fairly positive economic data would help risk appetite, but that has not been the case. Disappointment over company earnings has the U.S. stock market heading lower — and risk aversion setting in.
Other issues are also causing concern. According to Action Forex, China appears to be trading in its own world — something it may not be able to keep up with if the rest of the global economy can’t keep up.
For now, though, the greenback is higher in currency trading against all the major currencies. Weaknesses in other countries may be contributing to dollar gains, such as continued concern over sovereign debt in the euro zone and growing unemployment in Australia.
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