US Dollar Up Against Most Majors

US dollar is up against the euro today, and higher against other currencies right now. Greenback is gaining against the 17-nation euro as the ECB cuts its key rate to 1%, and as European banks increase their demand for dollars.

For now, the markets are waiting for direction. Mario Draghi, the ECB president, has said that the euro breakup rumors arefar-fetched, and that it’s not time to speculate about such things. The speech hasn’t helped the euro overcome the US dollar yet, but with other currencies gaining on the greenback today, many expect that a little optimism could go a long way for the euro.
US dollar is moving higher against most major currencies, but down against the Japanese yen. Greenback has slightly higher against the UK pound, with the BOE keeping the benchmark rate on hold. GBP/USD is mostly rangebound for now.
Really, though, the Forex market is waiting for some bigger news. A little more information is likely to give financial markets direction, and that is what Forex traders are looking for. Until there is a little more direction, things are likely to remain mixed.
At 14:09 GMT EUR/USD is lower at 1.3328, down from the open at 1.3415. GBP/USD has slipped a little lower to 1.5683 from the open at 1.5710. USD/CAD is a little higher at 1.0108, up from the open at 1.0098. USD/JPY is lower at 77.3025, down from the open at 77.6780.

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