Investing.com – The U.S. dollar plunged against all of the other major currencies on Thursday, ahead of the release of key U.S. data on initial jobless claims, as well as government data on producer price inflation and trade balance.
During European early afternoon trade, the greenback was down against the euro, with EUR/USD surging 0.93% to hit 1.4091.
The greenback was also down against the pound and the Swiss franc, with GBP/USD advancing 0.87% to hit 1.6036 and USD/CHF tumbling 0.86% to hit 0.9497, an all-time low.
The greenback was also down against the yen, with USD/JPY plunging 0.79% to hit 81.16, a 15-year low. Earlier in the day, Japanese Finance Minister Yoshihiko Noda refused to comment on the yen's sharp appreciation. On Tuesday, Minister Noda said his government would take "bold action, which includes intervention, if needed.”
Elsewhere the greenback hit parity against its Canadian cousin, with USD/CAD falling 0.41% to hit 0.9992.
The greenback was also down against its Australian and New Zealand counterparts, with AUD/USD climbing 0.68% to hit 0.9973 and NZD/USD rising 0.15% to hit 0.7614. Earlier in the day, official data showed that New Zealand’s retail sales remained unexpectedly flat in August.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.83%, hitting a 10 month low.
Earlier Thursday, the Monetary Authority of Singapore tightened policy, broadening the range of the Singapore dollar's trading band.
The action added to pressure on the U.S. dollar which has weakened amid expectations that the Federal Reserve could begin to implement further monetary easing as soon as next month, if inflation remains too low or unemployment too high.
During European early afternoon trade, the greenback was down against the euro, with EUR/USD surging 0.93% to hit 1.4091.
The greenback was also down against the pound and the Swiss franc, with GBP/USD advancing 0.87% to hit 1.6036 and USD/CHF tumbling 0.86% to hit 0.9497, an all-time low.
The greenback was also down against the yen, with USD/JPY plunging 0.79% to hit 81.16, a 15-year low. Earlier in the day, Japanese Finance Minister Yoshihiko Noda refused to comment on the yen's sharp appreciation. On Tuesday, Minister Noda said his government would take "bold action, which includes intervention, if needed.”
Elsewhere the greenback hit parity against its Canadian cousin, with USD/CAD falling 0.41% to hit 0.9992.
The greenback was also down against its Australian and New Zealand counterparts, with AUD/USD climbing 0.68% to hit 0.9973 and NZD/USD rising 0.15% to hit 0.7614. Earlier in the day, official data showed that New Zealand’s retail sales remained unexpectedly flat in August.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.83%, hitting a 10 month low.
Earlier Thursday, the Monetary Authority of Singapore tightened policy, broadening the range of the Singapore dollar's trading band.
The action added to pressure on the U.S. dollar which has weakened amid expectations that the Federal Reserve could begin to implement further monetary easing as soon as next month, if inflation remains too low or unemployment too high.