Thursday, 17 September 2009

ECB Comments and Risk Taking!

In a continuation of Friday’s move out of the US dollar as signs of improved economic conditions are improving, EUR/USD is experiencing a nice move to the upside. Positive comments from ECB President Trichet and the notes out of the G-20 meeting are giving investors confidence that recovery is underway and therefore investors are selling dollars.

The top gainers on the morning are the Swiss franc (+1.14%) and the Euro (+1.01%). Look for this uptrend to continue as risk takers seek higher-yielding currencies.

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