Forex - Dollar higher vs. most rivals in risk-off trade
Investing.com
Published Oct 04, 2011 05:45AM ET
During European morning trade, the greenback edged lower against the euro, with EUR/USD easing up 0.14% to hit 1.3194.
On Monday, European finance ministers postponed a decision on the release of Greece’s next tranche of aid until a meeting on October 17. The ministers were to meet in Brussels later Tuesday, to discuss the implementation of a permanent euro zone bailout facility.
The euro remained supported amid speculation that the European Central Bank was buying Spanish and Italian government bonds.
The greenback was higher against the pound, with GBP/USD down 0.25% to hit 1.5392.
Earlier in the day, data showed that construction activity in the U.K. fell to a 10-month low in September, as demand in the housing sector remained sluggish.
Elsewhere, the greenback was almost unchanged against the yen but slipped against the Swiss franc with USD/JPY inching up 0.01% to hit 76.61 and USD/CHF sliding 0.15% to hit 0.9201.
Japan's Finance Minister Jun Azumi reiterated a warning against speculators pushing the yen too high earlier, saying the recent moves by the euro against the yen were excessive.
Meanwhile, the greenback was up against its Canadian, Australian and New Zealand cousins, with USD/CAD easing up 0.09% to hit 1.0553, AUD/USD tumbling 0.76% to hit 0.9452 and NZD/USD dipping 0.07% to hit 0.7522.
The Reserve Bank of Australia said earlier that it was leaving interest rates unchanged at 4.75%, in light of the "very unsettled conditions in global financial markets."
Elsewhere, official data showed that Australian building approvals rose much more-than-expected in August, jumping 11.4%, far more than the forecast 1.1% increase.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.12% to hit 80.20.
Later in the day, the U.S. was to release official data on factory orders, while Federal Reserve Chairman Ben Bernanke was to testify to the Joint Economics Committee in Washington.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.