US dollar is slipping a little bit today, heading a little bit lower as better news comes out of Europe. Even though the dollar was holding its own earlier, the greenback has slipped a bit as the day has progressed.
The news that the eurozone has officially moved out of recession — and that second quarter growth was better than expected — is helping the euro. The 17-nation currency is still struggling a little bit today, but it’s finally moving ahead of the US dollar.
Also weighing on the US dollar is speculation that the Federal Reserve may put off its tapering after all. Concerns about overvalued stocks and the possibility of more problems as a result of a crash in the stock market have some wondering about the health of the US economy.
Uncertainty is weighing on the US dollar, and gold prices are on the rise. With gold rising, there is downward pressure on the greenback, and that is contributing to its slipping performance.
At 14:44 GMT the US dollar index has slipped to 81.6980, down from the open at 81.7440. EUR/USD has moved a little bit higher after a weaker performance, gaining to 1.3268 from the open at 1.3263. GBP/USD is also higher, moving up to 1.5533 from the open at 1.5449. USD/JPY has slipped to 98.0140 from the open at 98.2025.
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