By: Barbara Zigah
The U.S. Dollar fell in Asian trading today as improved Euro zone sentiment, together with higher share and oil prices, combined to spur on investor risk appetite. According to one economist in Japan, optimism over the world’s economies is returning, and investors are shifting their investments away from the U.S. Dollar and into higher-yielding currencies including the Australian Dollar, the Pound Sterling and the single currency Euro.
As reported at 3:30 p.m. in Tokyo, the U.S. Dollar Index, a measure of the greenback’s value versus six major currencies, slipped .2% to trade at 79.680 .DXY. In individual trading, the Australian Dollar traded at $0.8118, a gain of .5% and on track to close out the half year end improved by 14% versus the U.S. Dollar. Improved consumer morale in the U.K. helped to boost the Pound Sterling, which traded at $1.6703, an 8-month high versus the U.S. Dollar. Improved Euro Zone sentiment for June boosted the Euro versus the U.S. Dollar, which traded at $1.4111, an increase of .2%. Over the 6-month period ending today, the Euro saw only a 1% gain overall, attributed primarily to sharp losses in the first quarter of the year.
U.S. Dollar Slips Broadly in Asian Trading
Barbara Zigah
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About Barbara Zigah
After working on Wall Street, Barb began her second career as a freelance writer at Daily Forex, where the CEO recognized fresh, untapped potential and was willing to give her a try. She’s never looked back. Since then, she’s worked steadily as a freelance writer and editor in the financial services and Forex-related industry.