Greenback likely to see consolidation in currency trading
The U.S. dollar forex trading forecast calls for increased consolidation. Going forward, the global economy calls for some cautious optimism, rather dramatic growth. This means that the greenback is unlikely to make very many major swings in currency trading. GFT’s Kathy Lien offers this forex trading forecast in FX360:
Growth will be negligible at best and therefore traders and investors will remain in wait and see mode as central banks keep interest rates on hold. There may be some talk of exit strategies, but nothing will be implemented until 2010 at the earliest. Therefore consolidation is the most likely trend in the currency markets with a bias to the downside for the dollar.
With things in slow-recovery mode, it is unlikely that we will see any major movements by the U.S. dollar in forex trading. However, long-term, there is likely to be downward movement for the greenback in currency trading.
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