Dollar Moves Higher Against Major Counterparts, Monday, August 13, 2007 3:48:27 PM
The greenback saw strength against the majors on Monday in New York. The dollar was higher against the sterling and euro and was little-moved against the yen. Greenback traders looked ahead to a slew of news coming on Tuesday, including trade balance data and producer price index data.The greenback remained up against the euro on Monday in New York after reaching a five-week high earlier in the day. The dollar gained in early hours and then added further gains at around 9:30 a.m. ET, reaching as high as 1.3613 at 11 a.m. ET. It slipped slightly in late-morning trading, but then gained again in the later afternoon. The pair traded at 1.3612 at 3:35 p.m. ET. Traders looked ahead to German GDP data and French CPI data, expected Tuesday.
The greenback moved to a six-week high against the sterling in Monday morning trading in New York. The dollar advanced in the early morning, reaching as high as 2.0085 at 5:45 a.m. ET. It edged back lower for the next several hours before stabilizing for the afternoon. The currencies moved at 2.0136 at 3:40 p.m. ET. Consumer price index data is expected Tuesday from the UK.
The dollar was little-moved against the yen on Monday morning in New York. The greenback fell as low as 117.73 at 6 a.m. ET, but then edged up to 118.55 later in the morning. It slipped slightly in the afternoon and moved at 118.29 at 3:45 p.m. ET. Traders looked ahead to Japan tertiary industry index data, expected later tonight.
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posted by Kalin Tasev @ 2:43 PM
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