Thursday, November 22, 2012

US$ Up; EU Finance Ministers Kick Can; Japanese Exports Drops


The U.S. dollar gained against the majority of its counterparts as European finance ministers failed to agree on a debt-reduction package for Greece.? The dollar also rose to the highest level since April versus the Japanese yen after the nation?s exports decreased.?

The U.S. dollar Index, which his trading near a three-month high, got a boost yesterday after Federal Reserve Chairman Ben Bernanke said the U.S. risked falling back into recession unless lawmakers averted the so-called fiscal cliff, boosting demand for the safety of the U.S. dollar.?

However, the greenback gave back most of its overnight gains in early trading as the world?s reserve currency looks to be settling into tight ranges ahead of the Thanksgiving holiday in the U.S. tomorrow.?

Meanwhile, the economic docket showed that fewer Americans filed applications for unemployment benefits last week.? Jobless claims decreased by 41K to 410K, in line with expectations.? Later, leading indicators are expected to expand at a modest 0.1% in October, after gaining 0.6% in the month prior.? ?

Source: http://tempusfx.typepad.com/marketview/2012/11/us-up-eu-finance-ministers-kick-can-japanese-exports-drops.html

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