US Dollar Mostly Rangebound against Majors

US dollar is mostly rangebound against other major currencies, with Forex traders looking for direction from major players in the world economy.

Risk appetite is a bit hard to nail down right now. All the economic data recently released has many Forex traders processing the information and trying to decide what to do next.
In the United States, the consumer price index dropped in November, thanks in large part to lower gas prices. In China, there has been improvement in the manufacturing sector, and that is providing a little bit of a boost to riskier assets. Better PMI in China can help other markets, especially those that the large country imports from.
Earlier, risk aversion had the upper hand on uncertainty, but now there is a touch of risk appetite, and the story is changing a little bit. While the dollar has been mostly rangebound, other currencies might break out of their ranges and send the greenback lower.
At 14:03 GMT the US dollar index has slipped downward a little bit to 79.945 from the open at 79.964, but is still up from the previous close at 79.928. EUR/USD has moved from a loss to 1.3086, up from the open at 1.3077. GBP/USD has also turned it around, moving up to 1.6119 from the open at 1.6113. USD/JPY has slipped from its earlier gains to 83.5115, down from the open at 83.6450.

If you have any questions, comments or opinions regarding the US Dollar,
feel free to post them using the commentary form below.

Leave a Reply

Your email address will not be published. Required fields are marked *