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Forex - Dollar mixed vs. rivals after euro zone data

Published 06/22/2010, 06:13 AM
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Investing.com – The U.S. dollar was mixed against its main rivals on Tuesday, following a raft of euro zone data and ahead of the British emergency budget later in the day.

During European morning trade, the greenback was up against the euro, with EUR/USD slipping 0.05% to hit 1.2307.

Earlier Tuesday, official data showed that while German business sentiment rose unexpectedly in June, the euro zone’s current account recorded a deficit in April, defying expectations of a surplus.

The greenback was also up against sterling with GBP/USD shedding 0.26% to hit 1.4716, as British Chancellor of the Exchequer, George Osborne, was set to unveil the emergency budget later in the day.

But the greenback was down against the Swiss franc and the yen, with USD/CHF falling 0.29% to hit 1.1088, and USD/JPY shedding 0.39% to hit 90.69.

Earlier in the day, Japanese finance minister, Yoshihiko Noda, announced that public spending would be capped at 71 trillion yen over the next three years and said the government will achieve the targets “by conducting reforms of spending and revenue.”

The government has also pledged taxation reform in an attempt to balance the country’s budget by 2020.

Meanwhile, the greenback was down against its Australian, New Zealand and Canadian counterparts with AUD/USD rising 0.19% to hit 0.8784; NZD/USD gaining 0.09% to hit 0.7090; and USD/CAD dropping 0.21% to hit 0.7090.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.1%.

Later in the day, the U.S. was to release key data on existing home sales, a leading indicator of economic health.

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