Top Stories
by ForexNewsNow Team on July 16, 2010

Dollar jumps as U.S. recovery jitters sap risk appetite

forex trading currency trading online forex USDNEW YORK (Forex News Now) – The U.S. dollar jumped broadly on Friday, as further weak U.S. economic data sapped FX traders’ risk appetite.

In late U.S. currency trading, the dollar climbed against the euro and pound, with EUR/USD trading at 1.2946, down 0.03 percent, and GBP/USD trading at 1.5308, down 1 percent.

The greenback’s advances came after Treasury Department data showed earlier that global demand for long-term U.S. financial assets slowed in May, as foreign central banks reduced their holdings of Treasury bills and investors abroad sold stocks.

A report on U.S. consumer confidence also weighed on investor sentiment.

Meanwhile, the U.S. dollar was up against the Swiss franc, with USD/CHF trading at 1.0502, up 0.9 percent.

The U.S. dollar also advanced against the Aussie, kiwi and loonie: AUD/USD traded at 0.8714, down 1.46 percent; NZD/USD traded at 0.7125, down a massive 2.33 percent; and USD/CAD traded at 1.054, up 1.52 percent.

But the greenback was down versus the yen, with USD/JPY trading at 86.77, down 0.71 percent, following an upbeat outlook from the Bank of Japan.

The U.S. Dollar Index, a six-currency gauge of the greenback’s strength, was up 0.19 percent.

By ForexNewsNow Team

This is a general account of the ForexNewsNow Team. It is used to published exclusive content carefully crafted by our experts as well as it is used to bring you the most recent industry highlights from our guest contributors that wish to remain anonymous.

More content by ForexNewsNow Team

Comments (0 comment(s))