Wednesday, July 22, 2015

Forex Market Update : Epic Research Singapore

The U.S. dollar snapped a four-day winning streak Tuesday as investors took advantage of light trading volume to unload some of their holdings in the buck.

The euro EURUSD, -0.0366%  finished the session at $1.0938, up nearly 1% gain against the dollar. The shared currency rose steadily throughout the session as U.S. Treasury yields moved lower. It traded at $1.0832 late Monday in New York.

The ICE U.S. dollar index DXY, +0.03% which comprises six rival currencies, with the euro the most heavily weighted among them, was down 0.7% to 97.8880. The index has risen 8.5% since the beginning of the year.

Currencies that are heavily influenced by commodity prices—including the Canadian dollar CADUSD, -0.1697%  and Australian dollar AUDUSD, -0.0944% —were flat, mirroring the action in crude-oil and gold prices. Both commodities were little-changed from Monday’s close.

Of the commodity-dependent currencies, the kiwi NZDUSD, -0.2415% —an informal name for the New Zealand dollar—outperformed for the second straight day. The currency was up 0.9%, from 65.74 cents to 66.34 cents.

The dollar continued to strengthen against the pound GBPUSD, +0.0193% with the British currency falling 0.1% to $1.5552, from $1.5568 late Monday in New York. But the buck USDJPY, -0.12%  traded lower against the yen, falling to 123.9670, from ¥124.31.

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