FX Squawk

fxmarkets | 11/9/2009 in FX Squawk | Comments (0)

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Most major currencies are fairing better than the US Dollar today, after the G20 appeared to show little concern for the FX world markets.  To many, it indicated a move to sell the US Dollar.  The Euro is now trading near the $1.50 level. Risk traders will most likely look for a Euro pull back before adding to long positions.  These traders will be looking for a pull back toward $1.4945 before they begin buying again.  The GBP has extended gains to the highest level since August, which could have been boosted by the Kraft takeover of Cadbury, which has a deadline of today.  A jump in New Zealand milk prices has helped the New Zealand Dollar become a top performer today.

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