Forex - Dollar down vs. rivals as Fed easing concerns weigh

Published 10/07/2010, 04:55 AM
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Investing.com – The U.S. dollar was down against all the other major currencies on Thursday, amid speculation that further monetary easing may be required to support the flagging U.S. economy.
 
During European morning trade, the greenback was down against the euro, with EUR/USD gaining 0.27% to hit 1.3968.

The greenback was also down against the pound, with GBP/USD rising 0.26% to hit 1.5933.

Earlier in the day, official data showed that manufacturing production in the U.K. rose more-than-expected in August.

Elsewhere, the dollar was down against the Swiss franc and the yen, with USD/CHF shedding 0.35% to hit 0.9582 and USD/JPY falling 0.50% to hit 82.50.

Meanwhile, the greenback was down against its Canadian, Australian and New Zealand counterparts, with USD/CAD shedding 0.05% to hit 1.0106, AUD/USD soaring 1.15% to hit 0.9888 and NZD/USD advancing 0.59% to hit 0.7568.

Earlier in the day, official data showed that Australian employers added significantly more jobs than expected in September, while the rate of unemployment in Australia remained unchanged at 5.1% during the month.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.30%.

Later in the day, the U.S. was to release key weekly data on initial jobless claims.

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