Greenback Gains Support from Government Housing Market Plans

by Trader Rich

U.S. dollar rally continues in FX tradingThe U.S. dollar rally continues into a seventh day in FX trading on the currency market as the government announces that it will do its best to prevent additional home foreclosures.

September home foreclosure numbers are in, and they are showing that the housing crisis continues unabated. As a result, the government is planning to pump as much as billion (for now) into programs aimed at trying to stem the tide of foreclosures.

As a result, the greenback is up in currency trading, since it is apparent that the U.S. government is behind efforts to buoy the economy. Additionally, the U.S. government is being seen as having the resources (albeit resources in the form of debt) to support the economy, and as a result the U.S. economy is viewed as more stable than other economies.

The U.S. dollar is gaining against the pound and the euro in forex trading, although it continues to struggle against the yen.