US Dollar Performance Choppy in Forex Trading

US dollar is experiencing choppy performance today as risk appetite battles with the fact that expectations for a Fed rate hike are on the rise again. US dollar is mostly lower against its major counterparts today, however. There hasn’t been a lot of movement as a new week starts and Forex traders evaluate the latest round of data.

Earnings continue to roll in, and they are solid. As a result, stocks are rising (the Dow may hit a new record) and risk appetite is high. US dollar is mostly lower against its high beta counterparts today, thanks to that risk appetite.
However, even with the greenback mostly lower against other currencies, the dollar index has been hanging in there. Thanks to recent positive data, including upbeat retail sales data and continued expectations for solid company earnings, many are back to expecting the Federal Reserve to raise interest rates again before the end of the year.
At 11:54 GMT the US dollar index just slipped lower, dropping to 96.577 from the open at 96.652. EUR/USD is up to 1.1051 from the open at 1.1050. GBP/USD is up to 1.3247 from the open at 1.1397. USD/JPY is up to 105.85 from the open at 105.35. USD/CAD is down to 1.2948 from the open at 1.2955.

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