Forex- Dollar Continues to Tumble Against Other Currencies

Forex- Dollar Continues to Tumble Against Other Currencies

© Reuters. The dollar edged down on Thursday. © Reuters. The dollar edged down on Thursday. – The dollar continued to dip down against other majors currencies on Thursday after failing to rally from economic data yesterday.

Trading volumes are expected to remain thin during the last week of the year.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.24% at 92.44 by 4:44 AM ET (09:44 GMT).

On Wednesday mixed economic reports left the dollar unchanged. rose by 0.2% month-on-month, compared to an expectation for a 0.4% decline, according to the National Association of Realtors. Meanwhile the Conference Board’s gauge fell to 122.1 in December from a revised reading of 128.6 in November, missing economists’ forecast for a reading of 128.

The dollar was nearing its lowest level against the loonie since October 23, with falling 0.37% to 1.2609. The greenback also fell against the Japanese yen, with dipping 0.34% to 112.81.

Elsewhere, the euro rose with increasing 0.32% to 1.1933. On Thursday the European Central Bank released the economic bulletin for December, saying the euro zone was expanding and inflation was expected to rise gradually.

Sterling was also higher, with trading at 1.3447, up 0.34% from earlier.

Meanwhile Australian and New Zealand dollars remained stronger, with gaining 0.35% to trade at 0.7793, while surged 0.41% to 0.7083.

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Published at Thu, 28 Dec 2017 09:45:00 +0000