Forex Market Update : Epic Research Singapore

The U.S. dollar logged its largest daily gain against Europe’s shared currency in nearly two months Wednesday as a stronger-than-expected reading on Chinese exports sparked a global stock rally that brightened broader market sentiment.

The euro EURUSD, -0.0444% bought $1.1287 late Wednesday in New York for a daily drop of 0.9% from $1.1388 late Tuesday in New York. That is the largest daily decline against the buck since Feb. 26, when it fell nearly 1%.

In other currency trading, the dollar USDJPY, +0.07%  bought ¥109.25 late Wednesday in New York, compared with ¥108.54 late Tuesday in New York. The pound GBPUSD, -0.3591%  weakened slightly to $1.4212, compared with $1.4264.

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