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Forex - Dollar broadly lower vs. rivals as Fed speech eyed

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Forexpros - The U.S. dollar was broadly lower against its major counterparts on Thursday, amid ongoing speculation that the Federal Reserve may point towards a fresh round of economic stimulus measures.

During European morning trade, the greenback was down against the euro, with EUR/USD rising 0.28% to hit 1.4454.

Earlier Thursday, a report showed that the Gfk German consumer climate index for September dipped to 5.2 from a final reading of 5.3 in August, amid concerns that global economic weakness will affect the domestic economy. The decline was in line with economists expectations.

The greenback was also lower against the pound, with GBP/USD climbing 0.20% to hit 1.6528.

U.K. building society Nationwide said earlier that its index of consumer confidence fell to 49 in July, from a reading of 51 the previous month.

Elsewhere, the greenback was higher against the yen but weakened against the Swiss franc, with USD/JPY rising 0.11% to hit 77.06 and USD/CHF shedding 0.40% to hit 0.7925.

Meanwhile, the greenback inched higher against its Australian counterpart but slipped against its Canadian and New Zealand cousins, AUD/USD dipping 0.02% to hit 1.0472, USD/CAD sliding 0.06% to hit 0.9866 and NZD/USD adding 0.24% to hit 0.8303.

Earlier in the day, official data showed that New Zealand's retail sales rose more-than-expected in the second quarter, due to a jump in sales of electronic goods and stronger auto sales.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.18% to hit 73.95.

Later in the day, the U.S. was to publish government data on initial jobless claims.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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