Breaking News

Dollar lower against euro, pound

ForexSep 11, 2013 10:57AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
Investing.com - The dollar was lower against the euro on Wednesday as concerns over Syria eased, boosting risk appetite, while the pound was trading close to seven-month highs after unexpectedly strong U.K. jobs data.

During U.S. morning trade, the euro hit session highs against the dollar, with EUR/USD rising 0.19% to 1.3292.

Investor sentiment was boosted after the White House confirmed that President Obama is in talks with France and Britain about getting a United Nations resolution to hold Syria to its apparent commitment to place its chemical weapons under international control.

President Obama said he would put plans for a military strike against Syria on hold if the country agrees to relinquish its chemical weapons stockpile.

Risk appetite was also underpinned after a recent string of upbeat economic data from China indicated that the world’s second largest economy is recovering from a slowdown.

The pound was trading close to its highest level since February against the dollar, with GBP/USD up 47% to 1.5805.

Sterling strengthened after official data showed that the rate of unemployment in the U.K. ticked down to 7.7% in the three months to July from 7.8% in the previous three months.

Economists had expected the unemployment rate to remain unchanged.
The data fuelled expectations that the Bank of England may raise interest rates sooner than it has indicated.

Last month, the BoE pledged to keep interest rates on hold at current record low levels until the unemployment rate falls below 7%, something that bank does not see for another three years.

The number of people claiming unemployment benefits in the U.K. fell by 32,600 in August, better than expectations for a decline of 22,000 people.

The dollar slipped lower against the yen but remained supported close to two-month highs, with USD/JPY down 0.36% to 100.01.

The dollar was also weaker against the Swiss franc, with USD/CHF sliding 0.39% to 0.9312.

Elsewhere, the greenback was mixed against its Australian, New Zealand and Canadian counterparts, with AUD/USD dipping 0.04% to 0.9309, NZD/USD inching up 0.03% to 0.8069 and USD/CAD slipping 0.08% to 1.0340.

The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.25% to 81.61.

Dollar lower against euro, pound

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.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • 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?
Write your thoughts here
Replace the attached chart with a new chart ?
Post also to:
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
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?
Replace the attached chart with a new chart ?
Post 1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
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.
Continue with Google
Sign up with Email