US Dollar Gains on Currency Trading

High beta currencies lower in forex trading

US dollar is gaining in currency trading right now, thanks to worries about what’s next for the eurozone. Confidence in the euro is being shaken a bit by the fact that Greek debt talks have been put off — again.

Risk aversion is high, and that means that many forex traders are looking for safe haven. The US dollar has been serving as a safe haven, since it is backed by what many consider to be the most stable taxpayer base in the world.

High beta currencies are pulling back against the US dollar for now, with the euro, pound and loonie all lower. High beta currencies are not in demand right now as forex traders look for safety, rather than yields.

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