Forex Blog: Currency Trading News & Analysis.

January 13th 2005

Currency trading based on deficit losing steam?

Currency trading based on the trade deficit MAY be losing steam (but, I wouldn’t hold my breath). According to

"People have grown tired of the deficit issue and are looking for something else to trade on, like interest rates," said Toshihiro Azuma, forex manager at Sumitomo Trust and Banking. "But, if the trade data is worse than expected, dollar selling could resume."

He added that even if the data is within expectations, the dollar could push down to around 102 yen — a level last seen at the end of last year — given that a round of dollar short-covering by hedge funds appeared to have been completed.

Read more: GLOBAL MARKETS-Asian exporters under pressure as yen gains

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Posted by Adam Kritzer | in Investing & Trading | No Comments »

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