Forex - Dollar mixed vs. rivals after dovish Fed comments

Published 11/16/2010, 05:06 AM
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Investing.com – The U.S. dollar was mixed against its major counterparts on Tuesday, after New York Fed President William Dudley said the need to exit from current U.S. monetary policies could be "years away".

During European morning trade, the greenback was down against the euro, with EUR/USD climbing 0.13%% to hit 1.3604.

Earlier in the day, data showed that the ZEW index of German consumer sentiment unexpectedly jumped in November. Meanwhile, a separate report showed that consumer price inflation in the euro zone rose in line with expectations in October.

The greenback was also down against the pound and the Swiss franc, with GBP/USD climbing 0.05% to hit 1.606 and USD/CHF slipping 0.02% to hit 0.9842.

Earlier Tuesday, official data showed that U.K. consumer price inflation rose unexpectedly in October.

But the greenback was up the yen, with USD/JPY gaining 0.19% to hit 83.23. Earlier in the day, official data showed that Japan’s tertiary industry activity declined significantly more-than-expected in September.

Elsewhere the greenback was up against its Canadian, Australian and New Zealand counterparts, with USD/CAD rising 0.09% to hit 1.0107, AUD/USD shedding 0.50% to hit 0.9802 and NZD/USD slipping 0.09% to hit 0.7719.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.15%.

Later in the day, the U.S. was to release official data on producer price inflation and industrial production, as well as a report on the capacity utilization rate.

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