US dollar is gaining ground after pulling back against the euro earlier. Greenback is now gaining the upper hand against many of its major counterparts. Risk appetite is fading, even with the latest German GDP news, and the US dollar is beginning to eke out some gains against other major currencies.
Earlier, the US dollar pulled back against the euro as better data out of Germany helped the 17-nation currency. However, the situation isn’t maintaining, as the euro is slipping. US stock futures, which were almost 100 points higher at one point, have dropped, and gold prices are no longer gaining. Risk appetite is fading a bit as Forex traders and others reconsider the situation.
Greece is mulling a technocrat government, and Spain still hasn’t resolved a lot of its issues. As a result, the euro is no longer seeing some of its earlier gains. Uncertainty means that the US dollar is once again seeing demand as a safe haven, and other major currencies are losing ground. US dollar still boasts a somewhat improving economy as well, and that is especially helpful against an issues-laden eurozone.
At 13:14 GMT EUR/USD is lower at 1.2779, down from the open at 1.2823 and off the earlier high of 1.2871. GBP/USD is down to 1.6027 from the open at 1.6092. USD/JPY is up at 80.0200, higher than the open at 79.8530.
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