FREE Forex Trading Course
Deposit $250 in an FXCM Micro account and receive the DailyFX Power Course FREE OF CHARGE. FXCM Micro is a discount brokerage service offering super low spreads, 1k lot sizes, and flexible 400:1 leverage. Click below to learn more.
Currency trading involves risk of loss.
Leverage magnifies both gains and losses.
The dollar showed tentative signs of a recovery against the euro in Monday, trading slightly higher at 1.3808 compared to 1.3819, and well down from Friday’s highs.
Wall Street also showed signs of recovery from Friday’s big losses Monday as it rose 30 points in early trading.
The sterling was trading at 2.0303 usd down from 2.0309 earlier. However, the dollar lost ground against the yen, falling to 117.83 from 117.84.
The euro was also going well, reaching two-month highs of .6800 against the dollar.
In British pound was struggling however, losing ground against the dollar, the euro and the Swiss franc despite news that manufacturing output there was up for the fourth month running in June.
The fate of the US dollar over the coming days will most likely hinge on economic news coming from the United States.
On Tuesday, the Federal Reserve Board will meet to decide on interest rates, and on Wednesday the wholesale inventories for June will be released. On Friday, figures on US imports for July will be published.
19:24
Posted on Aug-07-2007
