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Forex - Dollar mixed vs. rivals, Swiss franc drops on SNB

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Forexpros - The U.S. dollar was mixed against its major counterparts on Thursday, amid ongoing concerns over the global economic outlook, while the Swiss franc dropped amid speculation the Swiss National Bank was intervening in the market.

During European morning trade, the greenback was down against the euro, with EUR/USD gaining 0.11% to hit 1.4442.

The single currency found support after ratings agency Standard & Poor's affirmed France's AAA credit rating with a stable outlook, easing fears the euro zone's second largest economy would lose its top-tier rating.

But the greenback was higher against the pound, with GBP/USD dipping 0.03% to hit 1.6539.

The U.K. Office for National Statistics said earlier that retail sales rose by 0.2% in July, below expectations for a 0.3% gain.

Meanwhile, the greenback was also up against the yen and Swiss franc, with USD/JPY easing up 0.02% to hit 76.62 and USD/CHF climbing 0.68% to hit 0.7955.

Japanese Finance Minister Yoshihiko Noda said earlier that he will continue to "closely watch market moves", while a spokesman at the Bank of Japan said that senior finance ministry and BOJ officials met to discuss recent movements in the currency market.

Meanwhile, the Swiss National Bank declined to comment on speculation it was intervening in the currency market by boosting liquidity via the currency forwards market.

Elsewhere, the greenback was higher against the risk-sensitive Australian, New Zealand and Canadian dollars, with AUD/USD dropping 0.61% to hit 1.0486, NZD/USD declining 0.62% to hit 0.8323, while USD/CAD rose 0.2% to hit 0.9827.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was up 0.08% to hit 73.87.

Later in the day, the U.S. was to publish a flurry of economic data, which will help traders gauge the strength of the U.S. economic recovery.

The country was to produce government reports on initial jobless claims, consumer price inflation, existing home sales, manufacturing activity in Philadelphia as well as a report on natural gas stockpiles.

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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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