Dollar fractional as forint falls on cuts
by Brian Turner
The US dollar was down in relation to the euro and the yen and up against sterling on Tuesday, but its movement was fractional at best against the three currencies.
The dollar stood at $1.2582 in relation to the euro at mid-day in New York, was trading at ¥against the yen, and sat at $1.8274 as opposed to sterling.
Despite bad economic news, in which growth forecasts for this year and next for both Germany and the eurozone in general were cut again by the Organization for Economic Cooperation, the euro also rose 0.25 percent in relation to sterling to sit at £0.2582.
Meanwhile, in Eastern Europe, the Hungarian forint fell in relation to the euro, losing 1.2 percent to sit at Ft254.74, an 11-month low. This drop came after the Hungarian central bank cut interest rates to 7.25 percent. It was the fifth time interest rates have been cut in Hungary this year. The bank also lowered its inflation and growth forecasts.
Discuss this in the Finance Markets forums
Story link: Dollar fractional as forint falls on cuts
Add to Bookmarks:
Related financial stories to: Dollar fractional as forint falls on cuts
- USD falls on long-dollar position liquidations
- Dollar falls as interest rates up
- Dollar falls on unfavourable data
- Yen falls, US dollar strengthens
- Sterling falls further against dollar
- US dollar drops sharply after banks sell dollar reserves
- Sterling falls on economic data
- Euro stabilising after referendum falls
- US dollar, Yen see advances
- Eurofirst makes fractional gain
Previous: « Roche prepares flu drug for developing countries
Next: Worries about European economies hits bond prices »
Visited 683 times, 1 so far today
