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Latest Forex News on American Dollar

August 31, 2010 by · Leave a Comment 

According to leading Forex news site ForexYard, the dollar increased compared to the yen on Friday after a promising reading on the U.S. economy in the second quarter encouraged Treasury yields higher, increasing the appeal of the greenback.  Although less than previously estimated, the U.S. economy increased at a 1.6 percent annual rate in the second quarter, as businesses cut back inventories and the trade deficit expanded.

ForexYard reports that the USD/JPY is surprisingly trading higher by 90 pips at 85.30. The dollar is trading higher by 50 pips at 1.0275 against the CHF, as traders witness a clear distinction in the pair’s behavior. As the late night forex trading draws near, market volatility seems to have slowed down. The GBP/USD pair is level at 1.5512.

While there is no such thing as easy forex trading strategies, the forex news site recommends traders to continue purchasing the greenback while the current trend continues.

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