Currency trading with the greenback

Today is only a three-day week for U.S. financial markets, 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 Santa Claus Rally.

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. "The risk for the dollar is of year-end profit-taking."

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 forex trading. Not today, though. Instead, currency trading continues to cause problems for the greenback.

See Also



More informations about GFT in our Forex brokers section