US Dollar Gains in Forex Trading

Greenback higher in currency trading

US dollar is gaining in forex trading on the currency market, thanks to concerns about what’s next for the European economy, US economy and more. US trade data has been anemic, and the latest debt auction from Italy didn’t go as well as expected.

The result is that forex traders are turning to the US dollar for safety. US dollar is higher against the Canadian dollar, UK pound and euro today. The greenback’s advances have more to do with the weakness seen elsewhere than with any strength in the United States.

For now, US dollar is higher as uncertainty surrounding company earnings, the economy and Europe are the hallmarks of investor and forex trader worry. 

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