US dollar is mixed against other majors today as Forex traders consider the latest news and information, and take stock of how things might play out. There is a lot going on right now, and that is making for a somewhat volatile market.
US dollar was broadly higher earlier in the session, gaining on confusion, uncertainty, and worry. However, things are changing a little bit as the session progresses. Euro has managed to eke out some small gains against the greenback, despite falling earlier on profit taking prompted by dire comments from Eurogroup leader Jean-Claude Juncker.
Greenback is gaining against the UK pound, which is struggling as the British economy continues to languish. Indications that the US economy could be recovering (builder confidence is at a six-year high) provide a stark contrast with European economies, giving the dollar a bit of an edge.
Likely to affect the US dollar — and the entire Forex market — in the coming weeks include the outcome of the debt ceiling battle, decisions about government spending, and more earnings reports from US companies. There is a lot going on, and Forex traders have a lot to process.
At 16:40 GMT EUR/USD is up to 1.3307 from the open at 1.3306. GBP/USD is down to 1.6000 from the open at 1.6065. USD/JPY is down to 88.6455 from the open at 88.7870. USD/CAD is up to 0.9852 from the open at 0.9842.
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