Forex Blog: Currency Trading News & Analysis.

August 13th 2007

US Dollar Stays Firm Following Friday Market Trouble

Despite the problems affecting currencies worldwide on Friday, the dollar is holding strong against the yen, franc and pound sterling. Although last week’s struggle affected Europe and Australia the most, the Australian dollar is expected to rally with the US dollar. Today may prove less promising for the US once things settle down. For now, however, it is considered stable for traders. Forbes reports:

…each day will be a test for the US dollar although the greenback has gained some support on demand for US Treasuries as a safe haven investment due to their triple-A rating and high liquidity.

Read more: Dollar slightly firmer in Asian afternoon trade, awaiting fresh leads

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Posted by Amy Cottrell | in US Dollar | No Comments »

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