Even though the euro is off its recent highs against the US dollar, though, it is still turning in a strong performance against the greenback.
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US dollar is gaining today as a number of factors combine to support the greenback.
Euro is a little lower today against the US dollar, thanks in large part to a round of profit taking from Forex traders anxious to lock in gains seen last week during the 17-nation currency’s spectacular rally.
With the world economy looking a little better, with help from the latest news out of the United States as well as earlier news from China, optimism is driving interest in risk assets like the euro.
Canadian dollar is struggling today, thanks to the latest economic data. November retail sales were disappointing. Additionally, it’s not helping that oil prices can’t seem to find some solid support.
US dollar is mostly lower today as rangebound trading is the norm. With US markets closed for a holiday, volume is rather low, and currencies are trading rangebound in the FX market.