Greenback lower in currency trading
With all the optimism and risk appetite as a result of expectations of a Greek bailout, it is little surprise that the U.S. dollar is lower in forex trading.
Greenback is down in currency trading on the FX market today, thanks to renewed appetite for risk. The Aussie is gaining as gold prices rise, loonie is getting support from higher oil prices, and the euro is rising as China pledges its support.
Additionally, there is an expectation that soon forex traders will turn their attention to the U.S. economy, which is flagging. Recovery can't seem to take hold, and that is causing concerns about what could help if the world's largest economy can't hack it. It is little surprise that, for now, the U.S. dollar is struggling.
