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by ForexNewsNow Team on July 7, 2010

Dollar rises as risk rally fizzles out; ECB, BoE eyed

forex trading currency trading online forex USDNEW YORK (Forex News Now) – The U.S. dollar rose broadly on Thursday, as FX traders paused after a rally in U.S. stocks and oil prices, sparked by sharpened risk appetite, fizzled out.

In early Asian currency trading, the dollar climbed against the euro and pound, with EUR/USD trading at 1.2626, down 0.06 percent, and GBP/USD trading at 1.5182, down 0.06 percent.

The greenback’s advances came ahead of key interest rate decisions by the Bank of England and the European Central Bank, the day’s spotlight FX news events.

Meanwhile, the greenback was up versus the yen, with USD/JPY trading at 87.81, up 0.11 percent.

The U.S. dollar also advanced against the Aussie, kiwi and loonie: AUD/USD traded at 0.863, down 0.15 percent; NZD/USD traded at 0.7027, down 0.07 percent; and USD/CAD trading at 1.0478, up 0.09 percent.

But the U.S. dollar fell against the Swiss franc, with USD/CHF trading at 1.5182, down 0.06 percent.

The U.S. Dollar Index, a six-currency gauge of the greenback’s strength, was up 0.11 percent.

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