U.S. Dollar Mostly Lower in Currency Trading; Moody’s Warns of Possible Downgrade
by Trader Rich
Forex trading with the greenback
The U.S. dollar is mostly lower in currency trading on the FX market today, heading down as the situation continues to change with financial markets. The dollar is down against the euro, pound and Aussie, and the Canadian dollar remains right near parity.
Today, with Treasury yields pulling back a bit, it is little surprise that the U.S. dollar is falling a little bit as well. Additionally, the greenback is responding to another warning about the possible downgrade of the U.S. credit rating.
With the possibility of tax cuts being extended further, there are concerns about the state of U.S. finances. This is especially true when one stops to think that public finances in the U.S. might be in a worse state than those in the European Union, and it appears that the U.S. can ill afford to extend tax cuts while keeping up spending..
- U.S. Dollar in Forex Trading
Economics and currencies