Investing.com – The U.S. dollar remained sharply higher against almost all of its major counterparts on Thursday, as the Federal Reserve’s gloomy outlook for the U.S. economy sparked a sell-off of riskier assets.
During European afternoon trade, the greenback was up against the euro, with EUR/USD tumbling 0.81% to hit 1.3461.
Earlier in the day, data showed that German manufacturing output fell to a 24-month low in September, while manufacturing activity in the euro zone slumped to the lowest since August 2009.
A separate report showed that euro zone factory orders fell more-than-expected in July.
The greenback was also higher against the pound, with GBP/USD down 0.49% to hit 1.5419.
But the greenback was down against the yen, with USD/JPY sliding 0.20% to hit 76.30. In contrast, the greenback rallied against the Swiss franc, with USD/CHF jumping 1.30% to hit 0.9117.
Earlier Thursday, the ZEW Centre for European Economic Research said its index of Swiss economic sentiment fell for the fifth consecutive month in September, as a strong Swiss franc and concerns over the euro zone’s sovereign debt crisis weighed.
The greenback also posted large gains against its Canadian, Australian and New Zealand counterparts, with USD/CAD rallying 2.21% to hit 1.0304, AUD/USD tumbling 1.94% to hit 0.9847 and NZD/USD plunging 2.17% to hit 0.7839.
Earlier in the day, official data showed that New Zealand’s gross domestic product grew by 0.1% in the second quarter, after expanding by an upwardly revised 0.9% in the three months to March. Analysts had expected GDP to increase by 0.5% on the second quarter.
Elsewhere, data showed that Chinese factory output fell for a third consecutive month in September, adding to fears over a slowdown in global growth.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.69% to hit a seven-month high of 78.97.
Later in the day, the U.S. was to publish its weekly report on initial jobless claims.
During European afternoon trade, the greenback was up against the euro, with EUR/USD tumbling 0.81% to hit 1.3461.
Earlier in the day, data showed that German manufacturing output fell to a 24-month low in September, while manufacturing activity in the euro zone slumped to the lowest since August 2009.
A separate report showed that euro zone factory orders fell more-than-expected in July.
The greenback was also higher against the pound, with GBP/USD down 0.49% to hit 1.5419.
But the greenback was down against the yen, with USD/JPY sliding 0.20% to hit 76.30. In contrast, the greenback rallied against the Swiss franc, with USD/CHF jumping 1.30% to hit 0.9117.
Earlier Thursday, the ZEW Centre for European Economic Research said its index of Swiss economic sentiment fell for the fifth consecutive month in September, as a strong Swiss franc and concerns over the euro zone’s sovereign debt crisis weighed.
The greenback also posted large gains against its Canadian, Australian and New Zealand counterparts, with USD/CAD rallying 2.21% to hit 1.0304, AUD/USD tumbling 1.94% to hit 0.9847 and NZD/USD plunging 2.17% to hit 0.7839.
Earlier in the day, official data showed that New Zealand’s gross domestic product grew by 0.1% in the second quarter, after expanding by an upwardly revised 0.9% in the three months to March. Analysts had expected GDP to increase by 0.5% on the second quarter.
Elsewhere, data showed that Chinese factory output fell for a third consecutive month in September, adding to fears over a slowdown in global growth.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.69% to hit a seven-month high of 78.97.
Later in the day, the U.S. was to publish its weekly report on initial jobless claims.