US dollar is heading higher today against many of its major counterparts, thanks in large part to some of the uncertainty still in the markets. With the concerns about China, the United States remains the economic safe haven.
China has been shaking up markets this week. Even though stocks are looking to regain some of their recent losses, there is still uncertainty surrounding the world’s second-largest economy. As a result, many investors and Forex traders are turning to the United States.
As a result, the greenback is mostly higher today. US dollar is gaining as Chinese consumers hurry to buy greenbacks, and as Forex traders look for safe haven. The US economy continues to recover, and the dollar is considered one of the most stable currencies in the world. This is in contrast to concerns related to China and the eurozone. That is playing into the dollar’s hand today.
At 15:09 GMT the US dollar index is up to 99.014 from the open at 99.084. EUR/USD is lower, falling to 1.0831 from the open at 1.0854. GBP/USD is also lower, dropping to 1.4416 from the open at 1.4439. USD/JPY is higher, moving up to 118.1480 from the open at 117.7130. USD/CAD is lower, though, falling to 1.4233 from the open at 1.4258.
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