U.S. Dollar Falls on Growth Concerns

The dollar fell, its first two-day decline this month, on concern growth in the U.S. economy is slowing after reports showed jobless claims, equipment orders and new-home sales were weaker than forecast.

“The dollar is a bit softer and it’s consolidating,” said Robert Lynch, a currency strategist at HSBC Holdings Plc in New York. “People would look to the data as a reinforcement of that.”  The Bloomberg Dollar Spot Index, which tracks the greenback against 10 major peers, dropped 0.2 percent to 1,096.91 at 5 p.m. in New York. It touched 1,102.87 yesterday, the highest since 2009.

The greenback dropped 0.2 percent to 117.73 per yen after reaching 118.98 on Nov. 20, the strongest level since August 2007. It fell 0.3 percent to $1.2506 per euro, a third day of decline. The yen weakened 0.1 percent to 147.24 per euro.


This article 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 Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.