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Currency trading involves risk of loss.
Leverage magnifies both gains and losses.
The nosedives in the stock market also strike the currency market today. For an undisclosed period, the rebound in the US dollar ceased to exist as the stock market crashed on fears that the financial sector could be in for more problem. The Dow Jones Industrial Average bite back all of those gains to finish the day down 56 points. This was not before declining more than 160 points, then reversing back to flat and then dropping once more. The reduce in stocks was caused by Lehman Brother’s warning that Fannie Mae and Freddie Mac could have no other choice but to raise as much as $75 billion in capital to offset write downs and meet new accounting rules.
08:36
Posted on Jul-08-2008
