16 July, 2009

WORLD FOREX: Dollar Mixed In Light Holiday Flows

The dollar is currently little changed against the euro and the yen, modestly higher against the British pound, and lower against the commodity currencies."Given the holiday today, there's just a general lack of overall interest," said George Davis, chief technical analyst for foreign exchange at RBC Capital Markets in Toronto.The dollar had appreciated broadly on Thursday after weaker-than-expected U.S. jobs data for June revived concerns about the economic outlook and triggered a renewed aversion to risk, a market stance that tends to benefit the dollar against most other currencies.Overnight, the euro broke below $1.4000, a move that triggered stop loss activity that in turn propelled the European currency to a low around $1.3930, Davis said.

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