Dollar rises broadly on upbeat U.S. data with low volume trading

There is a broad rise of the dollar on upbeat U.S. data in low volume trading, it gained against majority of the other currencies on Wednesday, this was aided by the release of upbeat U.S. durable goods and University of Michigan consumer sentiment.

Against a forecast of -0.6% and 92.0%, the U.S durable goods and University of Michigan consumer sentiment performed better than anticipated at 0.0% and 92.6% respectively.

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The Usd remained under pressure in Asia, hitting a low at 1.0914 in early European session before recovering. New selling began at 1.0935 ahead of the New York open, which put more pressure on the pair to fall lower, with euro hitting an intraday low at 1.0870 in the New York afternoon on dollars broad based power.

 

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