Kathy Lien is Director of Currency Research at GFT, and runs KathyLien.com.
Kathy has a Bachelors degree in Finance from New York University. Kathy has written for Stocks and Commodities, CBS Market Watch, ActiveTrader, Futures and SFO Magazine. She is frequently quoted on Bloomberg and Reuters and has taught seminars across the country. She has also hosted trader chats on EliteTrader, eSignal, and FXStreet, sharing her expertise in both technical and fundamental analysis.
With both the US and Canadian markets closed for Labor Day, trading has been extremely quiet in the US dollar against the euro and British pound. However, the Japanese Yen charts see a sharp slide in the dollar against the yen.
With London markets closed for a summer bank holiday, trading has been unusually thin today. After a week of strong gains, the US dollar sold off on the back of easing oil prices.
When it comes to trading currencies, everything boils down to strong versus weak. These three words perfectly characterized the price action that we saw in the currency market today as both US and European economic data fell short of expectations.
The combination of weak European economic data and hawkish comments from the Federal Reserve has helped the US dollar regain strength after the EUR/USD’s attempt to close above 1.29.
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