Monday August 2, 2010 - 18:32:29 GMT
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Forex Hound - www.forexhound.com
U.S. Dollar Deepens Losses
The U.S. Dollar remains under pressure at
the mid-session following overnight news regarding a strengthening global
economy and weaker U.S.
business conditions in July.
Strength in the global manufacturing sector
gave investors little reason to lock up lower yields, driving investors into
higher yielding assets. The report also forced investors to question the
strength of the U.S.
The key question remains, how long will
investors continue to seek risk? At some point, like they have in the past,
investors will turn risk averse, seeking projection in the lower yielding
Dollar and Yen.
The Euro surged to the upside as investors
had little choice but to buy the European currency following strong PMI reports
from across Europe. All of the news seems to
be centering on developing strength in Europe and continued weakness in the U.S.
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