Friday, March 4, 2016

Forex Market Update : Epic Research Singapore

The dollar weakened against its main rivals Thursday as more evidence emerged that the largest constituent of the U.S. economy is in the midst of a troubling slowdown.

The euro EURUSD, -0.1552%  traded at $1.0962 late Thursday in New York, up from $1.0870 late Wednesday in New York. The dollar USDJPY, -0.09%   traded at ¥113.56 late Thursday, compared with ¥113.61 late Wednesday. The pound GBPUSD, -0.0917%  traded at $1.4171 Thursday, compared with $1.4082 Wednesday.

The ICE U.S. Dollar index DXY, +0.04% a measure of the dollar’s strength against a basket of six rival currencies, was down 0.6% at 97.5860

In other currency trading, the Australian dollar hit a new 2016 high against its U.S. rival as the global crude-oil benchmark LCOK6, +0.51%  traded above $37 a barrel. Wednesday’s stronger-than-expected reading on Australia’s fourth quarter economic growth was also helping to support its currency.

Against the U.S. dollar, the Aussie AUDUSD, +0.1224%  advanced to 73.76 cents, its strongest since December 2015, compared with 72.92 cents late Wednesday.

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