US Dollar Mixed in Forex Trading Today
US dollar is mixed in Forex trading today, a product of the unsettled and interesting events taking place right now. There is a bit of risk appetite on the Forex market, and that is weighing on the greenback against the euro, but the dollar is higher against the UK pound on the difficult news out of Britain.
Good news in the United States is contributing to a general feel of cautious optimism. In May, home prices rose for the fourth month in a row. Single home prices rose 0.9 per cent in May, beating expectations of a 0.5 per cent increase. The news is providing a bit of optimism for the market.
Also keeping the US dollar down against the euro is the fact that some expect the European Central Bank to begin buying sovereign debt again. There was a bit of a eurozone disappointment in the form of German President Wolfgang Schäuble saying that the eurozone bailout fund doesn’t need a banking license, though. But that isn’t stopping the euro from gaining against the US dollar.
Greenback is higher against the UK pound, though. Moody’s has cut the UK growth forecast after a disappointing GDP report from Q2. There is even talk that Britain could see it’s AAA credit rating cut. Pound is quite obviously struggling with that news.
At 14:42 GMT EUR/USD is up to 1.2307 from the open at 1.2261. GBP/USD is down to 1.5651 from the open at 1.5709. USD/JPY is down to 78.1595 from the open at 78.1790.
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Earlier News About the US Dollar:
- US Dollar Lower Against European Currencies (2012-07-27)
- US Dollar Drops in Forex Trading (2012-07-26)
- Dollar Reaches Two-Year High vs. Euro (2012-07-24)
- US Dollar Gains as Risk Aversion Rises (2012-07-23)
- US Dollar Loses Some Ground to Euro as Bundestag Decision is Released (2012-07-19)