The US dollar rose today against most of its major counterparts on the concerns that the financial crisis may spread across the Eurozone and as the macroeconomic reports signaled that the economic recovery in the US persists.
The industrial production in the US increased 0.4 percent in November after the decline of 0.2 percent in October. The Consumer Prices Index rose 0.1 percent in November, following the 0.2 percent growth in October. The Dollar Index, which tracks the performance of the greenback versus the currencies of the six major US trading partners, gained 0.7 percent to 79.881.
According to the Moodyâs Investors Services estimates, Spain needs to raise â¬170 billion next year. The Moody’s consider the bailout “unlikely” and may downgrade the nation’s credit rating.
EUR/USD dropped from 1.3377 to 1.3267 as of 18:06 GMT today. USD/JPY went up from 83.65 to 84.07.
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