Daily Forex Commentary for July 9, 2009

July 9, 2009

Short-term Factors Support Stronger Dollar

While some traders were distracted by the G-8 meeting and the possibility the BRIC nations will propose a plan to make central banks less dependent on the U.S. Dollar as the world’s reserve currency, other traders focused on why they should be long the Dollar at this time. These traders live in the now and are not distracted by future plans.

The main short-term factor that is controlling the market at this time is that investors are afraid of losing money. They are …
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