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Last week currency trading was largely affected by second quarter US corporate earnings reports. The stellar performance of Goldman Sachs, Intel and JP Morgan triggered a slight rise in risk sentiment among investors and currency traders. These results were followed by bad news from General Electric and Bank of America Corp.

The internet has taken business to a whole new level. Since the internet is global in scope entrepreneurs are often faced with problems that present themselves when doing business internationally. The e-businessman is more than likely to encounter foreign currencies and the difficulties currency conversion presents.

Mobile technology has profoundly changed the way people communicate and do business. People are now able to communicate from anywhere with mobile service and mobile technology also allows access to the internet from almost any location. Mobile technology has also changes currency trading. Day traders are no longer limited to a stuffy office and trade currencies while on the go.

For forex day traders a currency converter is an absolute necessity. The currency, or forex, market is the worlds largest and also the most volatile. Currency exchange rates can, and do, change several times daily. Most day traders use an online currency converter and many of these are updated regularly in real time.

For the last two months forex traders and investors have been reading about the ‘green shoots’ of recovery theory which has affected currency exchange rates. Although many experts warned that the optimism displayed was premature investors searched for signs that the worst of the global recession was over. Recent unemployment data from the US and weak industrial figures from the US combined with poor stock market performance have left doubts about the progress of global recovery.

Mr. Mahon also suggested that investors are waiting to see if last week’s dollar rally is a sign that the correlation between the dollar and risk sentiment is breaking down. Since the current recession began bad news has helped the dollar and good news has put downward pressure on the greenback.

The weekend meeting of the G 8 nations yielded some positive viewpoints about the global economy. Finance Ministers believe the credit crisis is easing and described their respective economies in the most positive terms since the global recession began. Despite the positive tone of the meeting many participants expressed caution.

The dollar to euro rate rose on Wednesday after the US government sold $19 billion in 10 year notes. Investors were reassured about the US’s ability to sell long term debt to ease mounting deficits. The dollar to yen rate was also affected by the auction.

The foreign currency exchange market otherwise known as Forex is the world’s largest market trading over $2 trillion dollars daily. Typically investors either use a broker or become day traders themselves. No matter which course of action is taken the ability to use a Forex converter is essential.

The US dollar staged a rally late last week after better than expected jobs data showed that the rate of job losses in the US sharply declined in May despite the news that General Motors was closing several manufacturing facilities across the US. Currency exchange rates were also affected by speculation that the US Federal Reserve will raise rates by the end of the year. The euro was pressured downward after Standard and Poor’s downgraded Ireland’s credit rating for the second time this year.

American entertainers performing overseas find themselves in a unique position due to the dollar’s strength. Depending on how and when they were contracted to appear overseas some entertainers could end up taking home less than they would have months ago.