Modest rally helps greenback in forex trading
The U.S. dollar is moving higher in currency trading on the FX market today. The euro is faltering in forex trading, and the greenback is gaining the upper hand — at least for now.
Yesterday, the story was different. Ben Bernanke tried to buoy up the dollar with rhetoric, but largely failed as the greenback tanked in forex trading, heading to 15-month lows.
Today, though, things are looking a little different. With equity markets pulling back and commodities losing ground, the U.S. dollar is finding support. However, this support may not last long, as it is expected that fundamentals will once again assert themselves as economic recovery progresses.
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