Excerpt from: Futures and Commodity News
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| April 26, 2007 | | Today, spread bets, CFDs and spot forex trades could favour the greenback | After yesterday's struggle on the spot forex market, many currency traders thought that they would see the U.S. dollar reach new lows against other major currencies. However, as other currencies failed to break through important marks in spot forex trading, the tune changed and now traders are engaging in profit taking. This is boosting the greenback on the spot forex market, reports Reuters:
"The Kiwi is leading this. That was the first to go .. but
it's broad dollar buying. We're not making new tops (in the
euro), so it's just coming off. People are getting a bit fed up,
it's the end of the week so we're seeing a bit of profit
taking," said a trader in London. | | |
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