Excerpt from: Futures and Commodity News
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| May 31, 2007 | | Spread bets, CFDs and spot forex trades to favour the greenback | The U.S. dollar is firming today on the spot forex market ahead of economic data that is expected to show that the U.S. economy is holding its ground, despite the housing market. The Federal Reserve is focused on inflation, and that is also providing support for the U.S. dollar. Reuters has information that could help with spread bets, CFDs and spot forex trades:
"I expect the dollar to be relatively well-supported, and if
risk aversion sets in you will see the dollar gaining ground
against sterling, the Aussie and currencies like that," said
Sharada Selvanathan, a currency strategist at BNP Paribas in
Singapore. | | |
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