Currency trading with the greenbackToday is only a three-day week for [B]U.S. financial markets[/B], and that expectation is keeping the U.S. dollar down in forex trading. In currency trading, the greenback is struggling right now as stocks improve due to the [B]Santa Claus Rally[/B].
MarketWatch reports on the reason for the drop in the U.S. dollar:
“With just a three-day week in which to get involved, most investors will choose to keep their powder dry,” wrote strategists at Moneycorp, a foreign-exchange broker. “[B]The risk for the dollar is of year-end profit-taking[/B].”
The thin trading and profit taking is why the U.S. dollar is not benefiting from gold weakness today. Normally, when gold is lower, it supports the dollar in [B]forex trading[/B]. Not today, though. Instead, currency trading continues to cause problems for the greenback.
[B]See Also[/B]
[ul]
[li]The Economy and Currency Trading with the Greenback[/li]Forex trading on the currency market
[/ul]