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Dollar Index Slips as Greenback Turns in Mixed Performance

November 30, 2012 at 17:48 by Miranda Marquit

US dollar banknotes and coinsUS dollar is mixed against major currencies today, but its gains against the yen and the pound aren’t helping the dollar index move higher. Instead, the dollar index is slipping on the greenback’s weakness against the euro and the Swiss franc.

Greenback is mixed today, heading lower against the euro, but gaining against the UK pound. There is a lot to process right now, but the US dollar index is lower in general as concerns about the current situation in the United States weigh.

Still no agreement has been reached about what to do about the fiscal cliff the United States is facing. With the expiration of tax breaks, along with a huge cut in benefits, there is expected to be a huge impact on the US economy, unless some sort of agreement can be reached.

For now, though, compromise is hard to come by in a bitterly divided US Congress. So, for now, some of the focus is on the good news of a Greek deal in the eurozone, and the dollar is getting help against the yen, which is expected to see some serious easing from the Bank of Japan in the next few weeks.

At 17:45 GMT the US dollar index is down to 80.156 from the open at 80.195. EUR/USD is up to 1.3007 from the open at 1.2980. GBP/USD is down to 1.6026 from the open at 1.6041. USD/JPY is up to 82.5200 from the open at 82.1400. USD/CHF is down to 0.9265 from the open at 0.9274.

If you have any questions, comments or opinions regarding the US Dollar, feel free to post them using the commentary form below.

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