Dollar regains ground after recent downbeat reports

Dollar regains ground after recent downbeat reports

20 April 2015, 13:37
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On Monday the dollar rose versus its peers, as market players digested the previous week's disappointing U.S. data.

However, the dollar remained fragile as investors pushed back expectations for higher U.S. interest rates after a recent string of soft economic data dampened optimism on the country's recovery.

The U.S. dollar index, measuring the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.38% to 97.99.

EUR/USD dropped 0.55% to 1.0748. The joint currency was vulnerable amid concerns that Greece is still far from reaching an agreement on economic reforms for bailout funds with its creditors, fuelling fears that the country could be forced out of the euro zone.

The pound was also lower, with GBP/USD down 0.19% to 1.4932.

The dollar was steady against the yen, with USD/JPY at 118.91 and higher against the Swiss franc, with USD/CHF climbing 0.55% to 0.9574.

The commodity-exposed Australian and New Zealand dollars were almost unchanged, with AUD/USD near three-week highs at 0.7788 and NZD/USD close to recent three-month highs at 0.7693; USD/CAD slipped 0.26% to trade at 1.2215.

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