Forex – U.S. Dollar Stays Near 9-Week High, Loonie Jumps

© Reuters. The U.S. dollar surged on Wednesday. – The dollar remained near nine-week highs against other currencies on Wednesday, while the loonie surged after the Bank of Canada increased rates.

The , which measures the greenback’s strength against a basket of six major currencies, was up 0.46% to 96.15 by 11:42 AM ET (15:42 GMT).

The Canadian dollar was higher, with down 0.47% t0 1.3022 after the Bank of Canada increased interest rates to 1.75% from 1.50%, as expected.

The dollar inched up against the Japanese yen, with up 0.05% to 112.49.

Meanwhile the euro was at its lowest level since August 17, after data showed that euro zone private sector activity grew at the slowest pace in more than two years in October, increasing concerns over the economic impact of trade wars.

Worry over Italy’s budget also remained in focus after the European Union took the unprecedented step of rejecting Rome’s 2019 draft budget on Tuesday, amid concerns over the impact of increased spending on already high national debt levels.

fell 0.69% to 1.1393.

Sterling remained under pressure as Brexit talks stalled just five months until the UK is scheduled to leave the EU. The pound was near one-and-a-half month lows, with falling 0.62% to 1.2903.

Elsewhere, the Australian dollar was lower, with falling 0.20% to 0.7071 and decreasing 0.43% to 0.6523.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Read More   Forex - U.S. Dollar Steady as Midterm Elections Kickoff

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.


Leave a Reply

This website uses cookies. By continuing to use this site, you accept our use of cookies.