Beautiful Mountains - 18 pictures

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Euro gains against dollar in currency trading

The euro has hit 1.50 again in forex trading on the currency market. With risk appetite returning, and the U.S. dollar floundering thanks to profit taking and stronger commodities, especially gold, it is little surprise that things are favoring the euro today.

GFT's Boris Schlossberg reports in FX360 on the return of the risk trade in currency trading on the FX market:

Risk FX slowly pushed higher at the start of a holiday leaden week with EUR/USD once again flirting with the 1.5000 level in the wake of better than expected PMI data. Aussie meanwhile also rose steadily through the Asian and early European sessions adding more than 100 points to break above the 92.00 handle as resource companies rallied on the back of another record high in gold.

Indeed, it looks like an interesting day going forward -- and maybe through the end of the year. If Black Friday shopping goes well in the U.S., there is a good chance that we will see some solid improvement in stocks through the end of the year. And that means more support for high beta currencies, like the euro, in forex trading.