Friday, February 26, 2016

Forex Market Update : Epic Research Singapore

The dollar strengthened against the yen Thursday after official U.S. data showed factories did brisk business in January, confirming earlier signs that manufacturing has begun to recover after a disappointing fourth quarter.

The greenback USDJPY, -0.08%  traded at ¥112.80 late Thursday in New York, from ¥111.95 late Wednesday in New York, reversing a drop from earlier in the day. The euro EURUSD, +0.2995%  traded at $1.1039 Thursday, compared with $1.1014 Wednesday.

The ICE U.S. Dollar index DXY, -0.20% a measure of the dollar’s strength against a basket of currencies, was down 0.1% at 97.4080 after rising earlier in the session

After dropping to a seven-year low earlier in the week, the pound GBPUSD, +0.1504% recovered Thursday as fears about the U.K. exiting the eurozone waned. The British currency was up slightly against both the euro and the dollar, recently trading at $1.3978 and 78.89 pence to the euro. It traded at $1.3926 and 79.10 pence late Wednesday.

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