US dollar is mixed today, and the dollar index performance serves as an indication that there are some uncertainties surrounding the greenback in the wake of last week’s surprising FOMC decision. Right now, a number of currency pairs are rangebound, looking for direction and wondering what is likely to be next.
A bit of uncertainty has crept into the markets today. China’s recent data is lackluster, and the US economic recovery doesn’t seem to be moving at the clip that many would like. Indeed, last week’s decision by the Federal Open Market Committee to put off the start of the bond purchase program taper is evidence that the US economy isn’t recovering all that well after all.
Right now, the dollar index is looking for direction after the beating it took at the end of last week. Greenback is mixed against its major counterparts, rising against the euro and falling against the yen and the pound.
At 13:51 GMT the US dollar index is down to 80.4230 from its previous close of 80.4310. EUR/USD is moving lower, dropping to 1.3504 from the open at 1.3549. GBP/USD is higher, though, moving up to 1.6052 from the open at 1.6006. USD/JPY is lower, dropping to 98.9060 from the open at 99.2645. USD/CAD is down to 1.0289 from the open at 1.0308.
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