The Dollar gained a little ground today as it advanced versus its G-10 rivals. DXY support at 74.90 held firmly again today as the index gained before closing at the 75.303 handle. The EUR was pushed lower as ECB President, Trichett applauded the Fed’s Ben Bernanke’s strong Dollar comments made day prior.
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Easy-Forex at the 5th ME Forex Expo & Conference
Easy Forex is pleased to announce its participation in the 5th Middle East Forex Trading Expo in Dubai on November 17-18, 2009 and invites all participants to come to booth F23 for a chance to have a personal demonstration of their Visual Trading Machine.
EURUSD Recovers Once Again
EURUSD bulls did manage to recover once again, support level stands as strong barrier which keeps bulls side from further falling. Buying options still remain for this pair, just below support – bulls are in danger.
Kiwi surges against U.S. Dollar
Commodity linked currencies, led by the New Zealand Dollar, moved sharply higher versus the U.S. Dollar in Monday’s trading in Sydney.
JPY Loses Ground vs Every G10 Currency Besides the Dollar
The Yen has lost ground to every other currency in the G-10 except the Dollar, since March of 2009. The BOJ has always favored a weak currency as it supports their large export business which accounts for over 20% of their GDP.