The euro touched a three-week high against the US dollar earlier in trading, thanks in large part to the latest GDP numbers out of Germany and France.
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The US dollar index is heading lower today, dropping as better news arrives from Europe. As the situations in the United Kingdom and in the eurozone improve, and as US data misses expectations, the greenback is struggling.
A president can suggest policy changes, and ask for things, but nearly everything that pertains to the economy and economic recovery, and laws about how much revenue the government take in are more about what Congress ends up doing. So the whole debate over the national debt and the deficit is doubly maddening.
Greenback is lower today, thanks to the latest economic news. Disappointments in the jobless claims report and in the latest retails sales data are weighing on the US dollar.
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It’s been an interesting few days for the loonie, and today the Canadian currency is mixed on the Forex market. However, even with the mixed performance, the Canadian dollar is mostly higher against its major counterparts.
UK pound is heading higher today, gaining ground as the economic picture improves, markets head higher, and the Bank of England is expected to move forward with a policy to step down its asset purchase program.
The eurozone GDP did rise a little bit in the third quarter of 2013, and Mario Draghi and the rest of the ECB are confident enough that they haven’t taken further moves to boost the economy.
Greenback is struggling today as it looks as though the Federal Reserve’s low-rate policy will remain in effect for some time.
Japanese yen is higher today as Forex traders and other think about last week’s policy decisions and economic data.