US Dollar Mixed Against Asian Majors, Monday, July 30, 2007 10:15:53 PM
The US dollar has been seeing mixed performance against its major Asian counterparts after data release from Japan and Australia on Tuesday.Japan June jobless and household spending, Australia`s building approvals and NAB Q2 business conditions are the data releases likely to have affected the deals recently. There was no economic information from New Zealand.
The US dollar was down against the Australian and the New Zealand currencies during late New York trading on Monday, but it continued its intra-day uptrend versus the yen.
However, following the data releases, the pairs have changed their directions. As of now, the greenback has been ticking down against the yen while drifting up against the Aussie and the kiwi.
Down from a late New York high of 119.23, the dollar-yen pair has been now trading near 118.9. On the other hand, the greenback has strengthened to 0.8574 from 0.8614 against the Aussie and to 0.7686 from 0.7721 versus the NZ currency, during this time period.
New Zealand` NBNZ July business confidence and Japanese June housing starts data are expected shortly and thereafter, traders will be waiting for a busy European session, which is expected to see key releases including German and Euro-zone unemployment rate for June, Euro-zone July consumer price inflation and GfK consumer confidence.
Meanwhile, the US currency has been holding steady versus the sterling but has picked up a few pips against the euro. Against both the currencies, the greenback was weak in late New York deals.
As of now, the dollar has been trading near 1.3710 against the euro, up from 1.3725 hit about 7:15 pm ET Monday and down from the previous session`s close of 1.3692. At the same time, the greenback has been holding a tight range against the pound around 2.0310 down from it preceding session`s close of 2.0247.
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posted by Kalin Tasev @ 7:24 PM
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