Investing.com – The dollar was broadly lower against its major rivals on Wednesday, after a slew of U.S. data painted a mixed picture of the U.S. economic recovery and after Ireland unveiled its austerity plan.
During European afternoon trade, the greenback was down against the euro, with EUR/USD climbing 0.15% to hit 1.3387.
Earlier Wednesday, data showed that the Ifo index of German business climate rose unexpectedly to hit a record high in November while separate data showed that industrial new orders in the euro zone fell more-than-expected in September.
Meanwhile, Irelands government said that it intended to save EUR15 billion between 2011 and 2014 – or about 4% of annual economic output – with EUR10 billion in public spending cuts and EUR5 billion in new taxes and revenues.
The greenback was also down against the pound with GBP/USD rising 0.08% to hit 1.5789. Earlier Wednesday, official data showed that the U.K. economy grew in line with expectations during the third quarter, unchanged from an advanced estimate.
Meanwhile, the greenback was up against the yen but down against the Swiss franc, with USD/JPY gaining 0.23% to hit 83.34 and USD/CHF shedding 0.44% to hit 0.9927.
Elsewhere the greenback was down against its Canadian, Australian and New Zealand counterparts, with USD/CAD plunging 1.44% to hit 1.0099, AUD/USD soaring 1.18% to hit 0.9838 and NZD/USD advancing 0.52% to hit 0.7626.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.23%.
Earlier Wednesday, official U.S. data showed that new home sales unexpectedly tumbled 8.1% in October.
Meanwhile, a separate report showed that both core durable goods orders and durable goods orders, which include transportation items, plunged unexpectedly in October.
Also Wednesday, official data showed that U.S. initial jobless claims fell more-than-expected last week, dropping to their lowest level since July 2008.
During European afternoon trade, the greenback was down against the euro, with EUR/USD climbing 0.15% to hit 1.3387.
Earlier Wednesday, data showed that the Ifo index of German business climate rose unexpectedly to hit a record high in November while separate data showed that industrial new orders in the euro zone fell more-than-expected in September.
Meanwhile, Irelands government said that it intended to save EUR15 billion between 2011 and 2014 – or about 4% of annual economic output – with EUR10 billion in public spending cuts and EUR5 billion in new taxes and revenues.
The greenback was also down against the pound with GBP/USD rising 0.08% to hit 1.5789. Earlier Wednesday, official data showed that the U.K. economy grew in line with expectations during the third quarter, unchanged from an advanced estimate.
Meanwhile, the greenback was up against the yen but down against the Swiss franc, with USD/JPY gaining 0.23% to hit 83.34 and USD/CHF shedding 0.44% to hit 0.9927.
Elsewhere the greenback was down against its Canadian, Australian and New Zealand counterparts, with USD/CAD plunging 1.44% to hit 1.0099, AUD/USD soaring 1.18% to hit 0.9838 and NZD/USD advancing 0.52% to hit 0.7626.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.23%.
Earlier Wednesday, official U.S. data showed that new home sales unexpectedly tumbled 8.1% in October.
Meanwhile, a separate report showed that both core durable goods orders and durable goods orders, which include transportation items, plunged unexpectedly in October.
Also Wednesday, official data showed that U.S. initial jobless claims fell more-than-expected last week, dropping to their lowest level since July 2008.