Dollar Index Lower for Now

Even though the US dollar is edging higher against some of its major counterparts, the dollar index remains a little bit lower for now. There isn’t a lot of interest in the markets right now, with many waiting to see how retailers fare during the American shopping tradition known as Black Friday.

Today is a big shopping day in the United States. Since there are no economic releases from the United States scheduled for today, many are focusing on retailers, and their expected gains today due to Black Friday.
Good news out of the eurozone boosted the 17-nation currency for a little while. Now, though, the US dollar is gaining ground against some of its major counterparts as the end of the month approaches, and consolidation becomes the norm. Plus, there might be some profit taking as well.
For now, the US dollar index remains lower than it was earlier, even as the greenback gains a little lost ground. Volume is light around the world, though, so there aren’t likely to be many big moves today.
At 15:00 GMT the US dollar index is down to 80.5620 from the open at 80.5690. EUR/USD is down to 1.3601 from the open at 1.3605. GBP/USD is down to 1.6327 from the open at 1.6345. USD/JPY is up to 102.3300 from the open at 102.2700.

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