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Forex: Greenback finished slightly up on Tuesday, far from the highs

Tue, Nov 10 2009, 22:54 GMT
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FXstreet.com (Córdoba) – On a calm session the Dollar and the Yen rose across the board on Tuesday but ended the day far from the highs. The best performer of the day was the Canadian Dollar. Cable managed to recover after a plunging following a warning on UK credit rating.

EUR/USD is holding below 1.5000 but recovered after falling below 1.4950. Greenback failed to confirm a break of the support at 1.4950 and weakened. GBP/USD tumbled to 1.6605 but the started to rise and currently is testing a resistance zone at 1.6740. The Yen rose across the board but at a moderate pace. USD/JPY continues to move in ranges.

Currencies tied to commodities finished slightly lower but far form the lows of the day. The Canadian Dollar rallied for the second day in a row reaching fresh 2-week highs.

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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

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Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.

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