Investing.com - The U.S. dollar surged against its major counterparts during Friday morning trade, as mixed economic signals triggered a flight to the safety of the greenback
During U.S. morning trade, the dollar was sharply higher against the euro, with EUR/USD plunging 0.91% to hit 1.3193.
In economic news, euro zone producer price inflation climbed more than expected to a seasonally adjusted 0.7% last month from -0.2% the preceding month.
Analysts had forecast euro zone PPI to only rise to 0.5% last month.
Meanwhile, at the European Union summit in Brussels, euro zone heads declared a turning point in the debt crisis.
EU President Herman Van Rompuy stated, “Targets on deficits are intermediate targets, no aim in itself. The restoration of confidence in the future of the euro zone will lead to economic growth. That is our ultimate objective.”
German Chancellor Angela Merkel changed her stance on slowing down payment for the EUR500 billion permanent rescue fund to speeding up the payments at the summit.
Known as the European Financial Stability Facility, the permanent fund will go into operation in July.
The greenback traded higher against the yen and the Swiss franc, with USD/JPY advancing 0.59% to strike 81.60 and USD/CHF soaring 0.97% to hit 0.9148.
The greenback was higher against its Canadian, Australian and New Zealand counterparts, with USD/CAD climbing 0.25% to hit 0.9879, AUD/USD falling 0.57% to hit 1.0747 and NZD/USD giving back 0.73% to hit 0.8334.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, traded higher 0.71% to hit 79.40.
- English (UK)
- English (India)
- English (Canada)
- English (Australia)
- English (South Africa)
- English (Philippines)
- English (Nigeria)
- Deutsch
- Español (España)
- Español (México)
- Français
- Italiano
- Nederlands
- Português (Portugal)
- Polski
- Português (Brasil)
- Русский
- Türkçe
- العربية
- Ελληνικά
- Svenska
- Suomi
- עברית
- 日本語
- 한국어
- 简体中文
- 繁體中文
- Bahasa Indonesia
- Bahasa Melayu
- ไทย
- Tiếng Việt
- हिंदी
U.S. dollar surges on European mixed signals
Published 03/02/2012, 10:25 AM
Updated 03/02/2012, 10:26 AM
U.S. dollar surges on European mixed signals
Latest comments
Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.