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USD Ahead of Fed Minutes: Strong vs. GBP & JPY, Soft vs. EUR

February 19, 2014 at 2:07 by Vladimir Vyun

Mix of US dollar billsThe US dollar continued to show strength versus the Great Britain pound and the Japanese yen, but was very weak against the euro as yet another bunch of worse-than-expected data from the United States hurt the appeal of the currency for investors who seek safety.

The Empire State Manufacturing Index demonstrated a drop from 12.5 to 4.5 in February, below the analysts’ estimate of 9.9. Net long-term securities transactions by Treasury International Capital unexpectedly fell in December, while traders had hoped for an increase. Specialists are worried that today’s housing data may be not particularly good too.

The dollar has started the week on strong footing, but was losing to euro yesterday. The greenback was rising against the yen and the sterling due to news from Japan and the Great Britain.

EUR/USD traded at 1.3767 as of 2:07 GMT today after rising from 1.3706 to 1.3757 yesterday. GBP/USD dropped from 1.6712 to 1.6682 before trading near 1.6688 today. USD/JPY advanced from 101.91 to 102.35 before pulling back a little to 102.22.

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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