US dollar is mostly higher today, thanks to a certain level of risk aversion. Stocks are struggling and there are concerns about the economies in China and the eurozone. Economic data for the United States is expected throughout this week, and some Forex traders are waiting to see what it shows.
Greenback is getting a bump against its high beta counterparts in Forex trading today. There is a lot of uncertainty surrounding China, the eurozone, and the United Kingdom. So far the United States economy has managed to provide better numbers. For the most part, the US dollar is gaining except against the yen, another safe haven.
Many Forex traders looking forward to more economic data from the United States this week. February retail sales data and the most recent CPI data are due for release of this week. Additionally, the Federal Reserve will be holding a meeting and making an announcement on Wednesday. Many Forex traders are waiting for direction from the Fed.
At 14:31 GMT the US dollar index is up to 96.524 from the open at 96.288. EUR/USD is down to 1.1108 from the open at 1.1138. GBP/USD is also lower, dropping to 1.4344 from the open at 1.4382. USD/JPY is down to 113.6780 from the open at 113.9450.
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