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Forex - Dollar mixed in early Asian trade

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Forexpros - The U.S. dollar was mixed against its major counterparts Wednesday, as positive sentiment from the Federal Reserve's vow to maintain ultra-low rates gave way to fears that Europe's debt crisis could claim France as its next victim.

In early Asian trade, the greenback was higher against the euro, with EUR/USD falling 0.33% to hit 1.4130.

Stocks on Wall Street suffered steep declines as market attention turned to European debt woes and the threat that France may be marked for a credit ratings downgrade.

French President Nicolas Sarkozy held a meeting Wednesday with the governor of the Bank of France to discuss the country's economic and financial situation..

By the end of Wednesday trade, the Dow Jones Industrial Average sank 4.6% to 10,720, the Nasdaq Composite Index lost 4.1% to 2,381, and the S&P 500 sagged 4.4% to 1.121.

The S&P 500 has lost nearly 18% from this year's closing high set on April 29.

The greenback was up against the British pound, with GBP/USD slipping 0.08% to 1.6120.

The dollar lost ground against both the yen and the Swiss franc with USD/JPY falling 0.21% to hit 76.71, and USD/CHF lower by 0.11% to hit 0.7258.

The greenback was mixed against its Canadian, Australian and New Zealand counterparts with USD/CAD down 0.09% to hit 0.9939, AUD/USD lower by 0.29% to hit 1.0149, and NZD/USD easing 0.09% to hit 0.8103.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.07% at 74.91.

The U.S. Labor Department was to release weekly figures on initial jobless claims on Thursday.

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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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