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Emerging Market Currencies and FX Trading

Emerging markets benefit from government decisionThe US dollar isn’t the only currency benefitting in forex trading today. In currency trading, emerging markets are also doing alright.

The government decision to support Fannie Mae and Freddie Mac is helping emerging market currencies in FX trading today. Emerging markets are benefiting, since fears about another major financial shakeup are being assuaged. Bloomberg reports on emerging market currencies in FX trading:

“All emerging-market currencies are doing well after the Fed’s decision,” said Robert Beange, an emerging-market currency strategist in London at JPMorgan Chase & Co. “It removes the risk of any major financial dislocation that would occur if those agencies were to fail.”

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This entry was posted on Monday, July 14th, 2008 at 15:52 and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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