Range-trading and consolidation continues to be main theme in currency markets
- Forex: Range-trading and consolidation in thin conditions continues to be the main theme in currency markets, and the buck continues to look strong. Traders picked up on an article written by The Telegraph's Ambrose Evans-Pritchard, who suggested that China has resorted to stealth intervention in the currency markets to amass USD. "A study by HSBC's currency team in Asia has concluded that China's central bank is in effect forcing commercial banks to build up large dollar reserves, using...
8/26/2008 3:27:54 AM
FXstreet.com: Fundamental
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