Forex - Dollar mixed following G7 comments, data points

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Investing.com - The U.S. dollar was mixed against its major rivals during Wednesday's Asian following important exchange rate comments from the G7 nations on Tuesday.

In Asian trading Wednesday, EUR/USD fell 0.03% to 1.3451after the G7 nations said they want to allow markets to determine exchange rates and that monetary policy must not be used to weaken currencies.

Spain's Treasury sold EUR3.02 billion worth of 12-month government bonds at an average yield of 1.548% earlier in the day, up from 1.472% at a similar auction last month. That indicates borrowing costs in the euro zone's fourth-largest economy are rising.

USD/JPY fell 0.18% to 93.31 after a reading of Japan's December Tertiary Index rose 1.4%, well above the consensus estimate calling for an increase of 0.8%. The November reading showed a decline of 0.4%. The survey highlights monthly changes in output by Japanese service firms.

In a separate report, Japan's corporate goods price index for January showed reading of -0.2%, topping the consensus estimate of -0.3%. That is also well above the December reading of -0.7%. The Bank of Japan meets on Thursday.

Elsewhere, GBP/USD rose 0.05% to 1.5671 while USD/CHF added 0.02% to 0.9175. USD/CAD fell 0.02% to 1.0022 after energy firm Nexen said it expects a deal by China's Cnooc to acquire the Canadian firm will be finalized by the end of this month.

AUD/USD rebounded from its lowest levels since October as the pair climbed 0.33% to 1.0343 after the Westpac consumer sentiment survey for February released earlier today showed an increase for the second consecutive month.

NZD/USD added 0.08% to 0.8414 following a press report that said even if the Reserve Bank of New Zealand lowers interest rates, the Kiwi may still rise. The U.S. Dollar Index fell 0.01% to 80.09.


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This article appears in: Investing , Forex and Currencies

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