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Forex - Dollar steady against rivals as Fed speech in focus

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Forexpros - The U.S. dollar was steady against its major counterparts in subdued trade on Thursday, as investors waited to see if the Federal Reserve is contemplating a third round of monetary stimulus measures.

During European afternoon trade, the greenback was down against the euro, with EUR/USD rising 0.17% to hit 1.4439.

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 almost unchanged against the pound, with GBP/USD inching up 0.01% to hit 1.6576.

The Confederation of British Industry said earlier that retail sales fell at their fastest pace in over a year in July.

Elsewhere, the greenback was higher against the yen but weakened against the Swiss franc, with USD/JPY rising 0.21% to hit 77.13 and USD/CHF slipping 0.20% to hit 0.7941.

In Switzerland, a report showed that the ZEW index of economic sentiment declined in August, falling for the fourth consecutive month, as a strong Swiss franc and concerns over the euro zone's sovereign debt crisis weighed.

Meanwhile, the greenback was lower against its Canadian, Australian and New Zealand counterparts, with USD/CAD shedding 0.17% to hit 0.9854, AUD/USD adding 0.18% to hit 1.0492 and NZD/USD advancing 0.49% to hit 0.8324.

Earlier in the day, official data showed that New Zealand 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, dipped 0.07% to hit 74.05.

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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