» US Dollar Strengthens in Currency Trading

Greenback advancing in FX trading

The US dollar is heading for a stronger position in currency trading on the FX market. The greenback is advancing in FX trading as oil retreats a bit. Also helping the dollar this morning in forex trading is the speculation that recent dollar weakness will be addressed at the G8 meeting.

Bloomberg reports on a trend toward a stronger US dollar in currency trading:

“We are seeing some broad-based dollar support,” said Ian Stannard, a senior currency strategist in London at BNP Paribas SA, the largest French bank. “The trend towards dollar recovery is very much in place.

See Also

• Greenback in FX Trading
  Forex trading on the currency market

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This entry was posted on Monday, July 7th, 2008 at 15:10 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.