US dollar is a little weaker today, heading mostly lower against its major counterparts as risk appetite sends Forex traders looking for higher yields.
Greenback is a little lower today, dropping a bit as risk appetite takes over. Riskier assets, including stocks, are heading higher today as enthusiasm is the story of the day. Even though there was weakness and uncertainty last week, many investors and Forex traders are looking to the new half of the year with hope.
The prospect of improving economies around the world (even though improvement will likely be slow) is helping fuel risk appetite and that means a lower dollar. Even gold prices are gaining ground, heading back above $1,200 an ounce and trying to recover from one of the biggest drops in recent history.
With all of this interest in risk assets, it is little surprise that the US dollar is heading a bit lower today against its major counter parts. Greenback could see some improvement later if things don’t pan out, but for now it’s about all thinks not the dollar.
At 17:33 GMT EUR/USD is up to 1.3061 from the open at 1.3015. GBP/USD is up to 1.5224 from the open at 1.5205. USD/JPY is up to 99.6900 from the open at 99.2395. USD/CAD is down to 1.0497 from the open at 1.0529.
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