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Dollar Declines on Improved Market Data

February 16, 2010 by

The dollar erased yesterday’s advanced versus the euro as better than expected corporate earnings brought risk appetite back to trading markets as speculations suggested that euro losses would be too significant compared to the size and the relevance of the Greek economy in the EU. The dollar fell despite positive domestic data and the EUR/USD currency pair currently trades at 1.3668.

N.Y. Empire State Manufacturing index increased to 24.9 in February from a previous reading of 15.9 in December. Actual figures were much above the forecasts which suggested this index to be at 17.9.

Net long-term purchases of the U.S. securities by the foreign investors were at $63.3 billion in December from a previous revised reading of $126.4 billion in November. Forecasts expected purchases to be at $50.3 billion.

If you have any comments on the recent EUR/USD action, please, reply using the form below.

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