Euro Gains in Forex Trading Against U.S. Dollar

by Trader Rich

Euro heads higher in currency tradingThe euro is heading higher again today in forex trading against the U.S. dollar. Even though the 15-nation currency is faltering against the U.K. pound, it continues its solid movement upward with regard to the greenback in FX trading.

Confidence in the U.S. economy has not been bolstered by president-elect Barack Obama‘s warning concerning the likelihood of a recession that continues for years. Even with the expectation of an economic stimulus package, Obama has been warning that the recession won’t end as quickly as some would like.

Even though euro zone economic data is bad as well, the main burdens of the global economy seem to remain mainly on the U.S.