Saturday, September 26, 2009

Currency Trading by Individual Investors on the Rise

from the WSJ :

Small Investors Make Big Bets on Currencies

The dollar is zigzagging, falling below the 90 yen mark Friday and testing the depths it plumbed against the euro a year ago. That kind of action is music to the ears of investors such as Ray Firetag.

As most of America slept on a recent Monday night, Mr. Firetag was in front of his computer in Elk Grove, Calif., wagering on the Australian dollar.

Gold, silver and oil had slipped, and trading in Asian stocks had been weak. The 43-year-old speculator figured the Australian dollar, strongly tied to commodities, would spurt higher against the Japanese yen
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