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The dollar edged up in trading against other currencies Thursday as the Chinese government appeared to signal that it may be willing to let the value of its currency rise.

One of the most important factors for range trading in todayâ??s markets is finding a pair that is not directly correlated to the rest of the market. For the vast majority of the viable, liquid exchange rates; risk appetite is the primary source for trend and volatility.

The dollar rose Thursday as ongoing concerns about the global economy boosted demand for the U.S. currency as a safe haven.

Economic activity in Germany is expected to expand at a faster pace in the third quarter as economists forecast the growth rate to increase 0.8% after rising 0.3% during the three-months through June, and long-term expectations for higher interest rate in Europe could drive the exchange rate higher as the nation emerges from the worst recession since the post-war period.

China won credit Thursday for the mix of stimulus spending and stable finances that has helped rekindle a global recovery, with U.S. Treasury Secretary Timothy Geithner and other leaders downplaying the issue of the weak Chinese currency.

European stock markets gave up earlier gains Thursday as the Standard & Poor’s 500 index once again failed to sustain a break above the 1,100 mark — a level many analysts think could act as a catalyst to a further rally around the world.

U.S. Treasury Secretary Timothy Geithner offered fresh reassurances to Asian nations that the Obama administration was committed to a strong dollar and to actions aimed at bolstering its value.

The Australian dollar rose to a fresh yearly high of 0.9370 against the greenback and remains the best performing currency on Thursday after bouncing back from the low , while the New Zealand dollar weakened for the second-day, with the exchange rate crossing back below the 20-Day SMA after rising to a high of 0.7442 during the Asian trade.

Environmental activists are trying to stop the Tennessee Valley Authority from starting a daily 1 million gallon discharge of water that contains mercury, selenium and other pollutants into the same river where coal ash was spilled at its Kingston Plant.