Dollar Drops on Asian Improved Data
The U.S. dollar started this Friday’s trading session losing versus most of the 16 main traded currencies as reports in Asia didn’t confirm mediocre forecasts and brought optimism towards the global economic recovery.
The dollar fell for a second day after touching the highest price in 2010 versus the euro earlier this week as bank lending improved in the South Pacific region and Japan’s monthly retail sales advanced surprising forecasts and pushing Asian stocks up, indirectly affecting the greenback rates to lower levels.
EUR/USD climbed to 1.3595 as of 4:24 am GMT from an intraday price of 1.3456.
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Earlier News About the U.S. Dollar:
- Dollar Ends Rally on Interest Rates Comments (2010-02-24)
- Dollar Post Record Advance Versus Euro on Fed Tone (2010-02-21)
- Discount Rate Surprise Fuels Dollar Rally (2010-02-19)
- Dollar Revives Rally on Domestic Data (2010-02-17)
- Dollar to Gain on Grim Global Outlook (2010-02-08)