Euro USD News. Happy Wednesday! Market News A mixed greenback kept close to recent peaks but it surrendered ground to peers from Canada and Australia amid signs of an improving world economy. Investors have found a security blanket in the greenback, a reflection of worries about the uncertain road ahead in Syria, while positive data yesterday on America’s factory sector bolstered confidence in a Fed taper. How much mileage the dollar gets out of its currency winning streak will depend on how America’s monthly jobs report fares on Friday. A healthier pace of hiring last month would all but cement the case for the Fed to shrink its $85 billion a month in growth-supporting bond purchases at bankers’ next gathering in two weeks. The euro largely sputtered on the eve of a European Central Bank policy meeting, holding near a six-week low against the greenback, while it fell to mid-May lows against sterling. The fastest growth for U.K. services businesses in more than six years in August buoyed the pound against the dollar, with the U.K. unit nearing a two- week peak. Better data from Europe converged with similarly upbeat data from China and Australia which bolstered the loonie and the Aussie dollar. The Aussie rallied more than 1% to two-week peaks against its U.S. counterpart but caution ahead of today’s Bank of Canada decision limited the loonie’s rise. italy4real/currency
Posted on: Wed, 04 Sep 2013 16:19:54 +0000
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