U.S. Dollar Weakens in Currency Trading
July 6th, 2010
The U.S. dollar is weaker in currency trading on the FX market today, thanks to a return in risk appetite.
Forex traders are looking for higher yields, and equity rallies around the world are prompting a little more confidence. As this happens, they turn to higher yielding currencies like the euro, sterling and Aussie, weakening the U.S. dollar.
However, this rally in risk might end up being a bit brief. There are still plenty of economic concerns right now, in Europe and in the U.S., and that is causing some to believe that maybe it’s not time to abandon safe haven currencies just yet.
Similar Posts:
- U.S. Dollar Down Across the Board
- Euro Prepares for Another Run at $1.40
- Euro Lower in Forex Trading
- Sterling Gains as U.K. Inflation Report is Released
- Sterling Higher After Positive Economic Data
