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Forex - Dollar mixed vs. rivals amid global growth fears

Published 08/23/2010, 11:18 AM
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Investing.com – The U.S. dollar was mixed against the other major currencies on Monday, as risk aversion remained pronounced amid fears that the rate of global economic growth is slowing.

During European afternoon trade, the greenback was up against the euro, with EUR/USD shedding 0.39% to hit 1.2660.

Earlier in the day, data showed that the euro zones manufacturing PMI fell more-than-expected in August while the services PMI declined in line with expectations.

The greenback was also up against the pound and the Swiss franc, with GBP/USD falling 0.17% to hit 1.5510 and USD/CHF gaining 0.52% to hit 1.0395.

Earlier in the day, data showed that a U.K. index of consumer finances stayed close to the lowest level in almost a year in August while a quarterly gauge of business confidence weakened.

But the greenback was down against the yen with USD/JPY shedding 0.48% to hit 85.18.

Earlier Monday, Japanese officials showed few signs of intervening in currency markets to curb the yen's recent strong gains after a widely expected meeting between Japan's prime minister and the BoJ governor did not go ahead.

Meanwhile, the greenback was also down against its Australian and New Zealand counterparts, with AUD/USD gaining 0.14% to hit 0.8926 and NZD/USD up 0.02% to hit 0.7070.

But the greenback was up against its Canadian counterpart, with USD/CAD gaining 0.31% to hit 1.0508.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.23%.

Also Monday, Kansas city Federal Reserve President Thomas Hoenig said that the biggest U.S. banks still have a government safety net, even after a congressional overhaul of banking regulation.

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