Friday October 22, 2010 - 13:45:50 GMT
Share This Story
Forex Hound - www.forexhound.com
U.S. Dollar Lower after Early Volatility
The U.S. Dollar is expected to open lower against most major
currencies after failing to hold on to overnight gains from the Asian session.
Shortly before the New York
opening, investors seem a little reluctant to be short the Greenback as finance
ministers from the Group of 20 nations meet in South Korea.
Comments from U.S. Treasury Secretary Timothy Geithner
continue to be market movers. In a letter to other G-20 members, he said
countries shouldnâ€™t use competitive exchange-rate policies and that exchange
rates should reflect economies.
His latest quote directed toward his G-20 counterparts
reads, â€ścommit to refrain from exchange-rate policies designed to achieve
competitive advantage by either weakening their currency or preventing
appreciation of an undervalued currency.â€ť
His comments supported the Dollar early in the session, but
it has since given up the gains. Volatility is a little higher because traders
are trying to decide whether to follow Geithnerâ€™s comments or continue to focus
on the size and shape of the Fedâ€™s quantitative easing program.
Forex Trading News
Daily Forex Market News
Forex news reports can be found on the forex research
headlines page below. Here you will find real-time forex market news reports
provided by respected contributors of currency trading information. Daily forex
market news, weekly forex research and monthly forex news features can be found
Real-time forex market news reports and features providing
other currency trading information can be accessed by clicking on any of the
headlines below. At the top of the forex blog page you will find the latest
forex trading information. Scroll down the page if you are looking for less
recent currency trading information. Scroll to the bottom of fx blog headlines
and click on the link for past reports on forex. Currency world news reports
from previous years can be found on the left sidebar under "FX Archives."