Excerpt from: Spot Forex
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| July 31, 2009 | | Pound takes the lead as global equities rally | In Asia, the stock markets closed markedly higher, providing an impetus for risk appetite. Even though European markets are struggling right now, they are expected to get a boost as U.S. stock markets head higher after a faltering start.
Indeed, this risk appetite is sending the sterling higher in forex trading. The U.K. pound often moves with global equities, and this means that with the stock market moving higher, the sterling is finding an advantage in forex trading.
The euro is also moving higher against the U.S. dollar, but its gains are much more subdued. It is really the U.K. pound that has broken out on the spot forex market and is heading higher at a rather rapid pace.
| Topic Tags: European markets, forex market, forex trading, spot forex, spot forex market, sterling forex trading, U.K. pound, U.S. markets | |
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