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Risk Aversion Limits Losses to US Dollar

US dollar has been struggling since the latest ADP data, and Forex traders and others are waiting for the nonfarms payroll report due out at the end of the week. However, even though the latest economic data isn’t positive for the greenback, losses are being limited as risk aversion sets in.

Greenback Drops on GDP Data

Yesterday’s Federal Reserve announcement and the recent GDP data are putting a damper on the US dollar today. Greenback is heading lower as Forex traders mull the implications of a slowing economy.

Higher Oil Prices Help Canadian Dollar

Canadian dollar is getting a boost today, reaching its highest level against the US dollar in about nine months, and gaining against some of its other counterparts as well. Higher oil prices are providing support to the loonie today.

US Dollar Slightly Lower Ahead of Fed Meeting

Greenback is slightly lower today, giving up some of its recent gains as Forex traders consolidate their positions. Many analysts and traders are looking forward to the Federal Reserve meeting later this week, trying to gauge what the next move will be.

Greenback Pulls Back After Earlier Gains

US dollar saw some earlier gains, holding over from yesterday’s rally. However, by now they are mostly gone as the greenback pulls back. Forex traders are consolidating their positions and preparing for the next move.

US Dollar Feels Pressure from Domestic Data & Market Sentiment

The US dollar dropped today against most currencies as both domestic fundamentals and the general optimistic market sentiment weighed on the currency.

Dollar Encounters Troubles with Moving Higher

The US dollar attempted to rally against other most-traded currencies this week but found limited success. The greenback gained on the euro and the Japanese yen but fell against the Great Britain pound and commodity currencies.

US Dollar Keeps Strength After Mixed Data

The US dollar continued to rise against most of its rivals, though it slowed the advance and even halted it against some currencies as US inflation data was disappointing.

US Dollar Stages Rally amid Positive Market Sentiment

The economists’ sentiment was positive lately due to the rally of global stocks, the rise of crude oil and the relatively positive trade balance report from China. Yet in a surprising twist, this was helping the US dollar, not hindering it.

Dollar Soft amid Dovish Outlook for Fed Policy

The US dollar fell against some other currencies today as traders remained concerned that the Federal Reserve will not be able to raise interest rates as fast as it has initially planned. The greenback was especially vulnerable against commodity-geared currencies and the Great Britain pound, faring better against safe currencies and the euro.

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