U.S. Dollar Falls Against Euro in Forex Trading

December 2, 2008 by Trader Rich

Greenback down in currency trading as recession becomes officialIt took a year, but the U.S. has finally, officially, been declared in a recession. With manufacturing data showing weakness, and everything else since December 2007 adding up, the National Bureau of Economic Research has announced an official recession for the U.S.

As a result, the euro is up in forex trading against the U.S. dollar. Additionally, the euro is being helped by the fact that central banks around the world are working hard to decrease the economic slowdown and avoid a recession. This is limiting the greenback appeal in currency trading as a safe haven.