Daily Forex Commentary for October 13, 2009

October 13, 2009

EUR USD Firms as Traders Become Optimistic About Recovery

Demand for higher risk assets supported a rally today in the EUR USD. Look for this trend to continue as long as U.S. interest rates remain relatively low compared to the Euro Zone’s rates. Traders are also becoming more confident that the Euro Zone economy will strengthen at a faster pace than the U.S. economy. Traders have to be careful that the Euro doesn’t spike higher because the European Central Bank is becoming concerned about the rapid rise in the …
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