US dollar is mixed today as Forex traders consider what is likely to be next. Earlier, the greenback saw some general gains against high beta currencies, but has since lost ground to the euro. Concerns about Greece and the eurozone are there, but not enough to keep the euro really down today.
The US dollar index has dropped a little bit after the open, even though there is a great deal of uncertainty right now. Despite concerns about Greece, and the US fiscal cliff, there appears to be some risk appetite today.
However, one should also consider the low volumes in the currency market. While the NYSE will be open today, US bond markets are closed for Veterans Day, and that is likely to make a difference in Forex trading. Indeed, it already has. Even with Greece expecting to fall short in tomorrow’s auction, and even with the US fiscal cliff looming, the euro is heading higher against the US dollar.
It’s been an interesting session, in spite of the low volumes, and many Forex traders are considering the future, and waiting for a little more certainty about what’s next before truly committing to courses of action.
At 14:29 GMT the US dollar index is down to 81.008 from the previous close at 81.026. EUR/USD is up to 1.2720 from the open at 1.2712. GBP/USD is down to 1.5875 from the open at 1.5904. USD/JPY is down to 79.4300 from the open at 79.4905.
If you have any questions, comments or opinions regarding the US Dollar,
feel free to post them using the commentary form below.
Be First to Comment