The US dollar index is a little bit higher today, gaining as risk aversion makes an appearance. Over night, following a rebound by riskier assets, the situation has deteriorated, and now the greenback has the upper hand.
Earlier, high beta currencies saw gains. The early portion of the Asian session showed risk appetite. However, markets are struggling a little bit now, thanks to weakness in Europe, and concerns over what’s next.
Even though the dollar index is a little bit higher, the actual performance of the greenback is mixed. The US dollar is higher against the euro, but lower against the pound. Greenback is also losing ground against a stronger loonie.
However, the losses to the US dollar right now are relatively small, and not enough to bring the US dollar index below the 80 level. For now, the dollar index is a bit higher as Forex traders and others look for direction, and attempt to figure out what will happen next.
At 12:58 GMT the US dollar index is up to 80.030 from the open at 79.942. EUR/USD is down to 1.2954 from the open at 1.2987. GBP/USD is up to 1.6016 from the open at 1.5953. USD/CAD is down to 0.9896 from the open at 0.9924. USD/JPY is down to 79.8300 from the open at 79.8550.
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