We have updated our privacy policy and terms & conditions. Find out more here.

Forex - Dollar mixed as Cyprus fears linger

ForexMar 27, 2013 01:08AM GMT Add a Comment
Share with a Friend
Thanks for sharing
Emails have been sent to:
To send more emails click here

Investing.com - The U.S. dollar is mixed against its major rivals in Wednesday’s Asian session following another day of impressive gains for U.S. equities, though fears remain that the banking solution being applied in Cyprus could be a model used in other economically challenged European nations.

In Asian trading Wednesday, EUR/USD is higher by 0.02% at 1.2865. The Cyprus bailout deal, announced Tuesday, guaranteed that accounts holding EUR100,000 or less will continue to be insured and likely moved to another financial institution, though the fates of larger accounts remained up in the air, with depositors and bondholders facing haircuts.

Earlier this week, Jeroen Dijsselbloem, head of the Eurogroup of euro zone finance ministers, said that model could be applied throughout Europe. That made market participants jittery, but French President Francoise Hollande and Spain's prime minister, Mario Rajoy sought to assuage investors by saying Cyprus is a unique situation.

GBP/USD is up 0.03% at 1.5165 while USD/JPY is higher by 0.19% at 94.63. On Tuesday, Bank of Japan Governor Haruhiko Kuroda said earlier he wanted to see inflation rates rise to 2% in two years and added he'd advocate buying more government debt to reach that goal.

USD/CHF fell 0.01% to 0.9480 while USD/CAD is up 0.02% at 1.0164.

In U.S. economic news, the Conference Board said its March reading of consumer confidence fell to 59.7 from a revised 68 in February. Economists expected a March reading of 68.7.

The Commerce Department said durable goods orders rose 5.7% in February after falling 3.8% in January. Economists expected a February increase of 4.9%. Core orders fell 0.5%. Economists expected a core increase of 0.5%. The Commerce Department also said new home sales fell 4.6% last month to seasonally-adjusted rate of 411,000, but rose 12.3% on a year-over-year basis.

The S&P/Case Shiller composite index of home prices in 20 metro areas rose 0.9% in December on a seasonally-adjusted basis. On a non-adjusted basis, the index rose 0.2%. Economists expected a seasonally-adjusted increase of 0.5%.

Ahead of the release of the Reserve Bank of Australia’s financial stability review, AUD/USD is down 0.09% at 1.0476. NZD/USD is off 0.04% at 0.8349. The U.S. Dollar Index is lower by 0.01% at 83.01.

Forex - Dollar mixed as Cyprus fears linger

Related Articles

Forex - EUR/USD trims losses but remains under pressure
Forex - EUR/USD trims losses but remains under pressure
By Investing.com - Mar 27, 2015

Investing.com - The euro trimmed losses against the U.S. dollar on Friday, after disappointing U.S. fourth quarter growth data dampened demand for the greenback, although concerns ...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Are you sure you want to delete this chart?
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Are you sure you want to delete this chart?

Successfully Reported

Thank you. This comment has been flagged for a moderator.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data .

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.