The dollar rose versus its developed-market peers amid speculation the U.S. economy, the world’s largest, will outpace other Group-of-10 nations.
The euro held its biggest drop in more than a week after a report yesterday showed the currency region’s industrial output slumped and Germany cut growth forecasts. The pound touched an 11-month low after a report showed U.K. inflation fell to levels unseen in five years. The yen weakened for a second day after technical indicators signaled it was overbought.
The Bloomberg Dollar Spot Index, which tracks the greenback against 10 major currencies, rose 0.1 percent to 1,069.45 as of 8:52 a.m. in Tokyo from yesterday, when it advanced 0.3 percent.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015