U.S. Dollar Forex Trading Forecast
November 17, 2008
Greenback declines in the short-term in currency tradingThe U.S. dollar forex trading forecast for the short-term is showing a story of decline. The euro is rallying in forex trading, and the yen continues to dominate as risk aversion remains a fixture on the currency market.
The greenback is declining in currency trading on the FX market as economic data is expected later today. This is expected to show a greater slowdown — and a more prolonged one — than what is expected in Japan. Bloomberg reports on the U.S. economy and the dollar forex trading forecast:
“There is a perception that the U.S. economy is more exposed to a slowdown than Japan,” said Neil Mellor, a currency strategist in London at Bank of New York Mellon Corp. “The yen is winning in the battle with the dollar because it is perceived as a greater safe haven.”
See Also
- U.S. Dollar in Forex Trading
Currency trading on the FX market
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