Thursday, February 25, 2016

Forex Market Update : Epic Research Singapore

The dollar pared its decline against the euro and yen Wednesday as oil prices rebounded and helped revive demand for risky assets like stocks.

The ICE U.S. dollar index DXY, +0.05% a measure of the buck’s strength against a basket of six rivals, was flat at 97.4840 late Wednesday in New York. The index declined steadily as the session wore on after briefly touching a three-week high around 7 a.m. Eastern.

The euro was down 0.1% at $1.1008 late Wednesday in New York EURUSD, +0.0817% compared with $1.1016 late Tuesday. The dollar USDJPY, +0.12%  strengthened 0.1% to ¥112.05, from ¥111.9720 Tuesday.

The pound GBPUSD, +0.0287%  fell to a seven-year low early in the session, but trimmed its decline to $1.3942 by late Wednesday, compared with $1.4009 late Tuesday.

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