National Bureau of Economic Research finally admits that the US economy fell into recession in December 2007. Constant news about the global economy have triggered sharp gains in the US dollar and the Japanese yen.Dollar Remains the Safe Haven Play.
This is the week where the problems in the US economy will come to forefront as reality sets in and investors realize the US is still in big trouble. If the economic data of major currency pair is as bad as we expect, the dollar rally should continue.
Will the currency pairs head towards :
EURUSD - 1.2000 ?
GBPUSD - 1.3700 ?
USDJPY - 89.00 ?
USDCHF - 1.2700?
Let's cross our fingers and hope for the best in our forex trading.
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