The US dollar remained mixed against its major currencies counterparts on Monday’s overnight trading session. Among the major factors do influence the forex trading was the meeting of finance ministers of major countries of euro zone. Finance ministers from major countries of euro zone will gather on Tuesday to plan the boost of lending capacity of 440 billion euro or $584 billion as European Financial Stability Fund.
The dollar index DXY which measure the US dollars performance versus its major six rivals dropped advanced to 79.407 in overnight market as compared to 79.093 on last Friday’s trading session.
The US dollar declined versus the Japanese Yen to 82.45 on Asian trading session as compared to 82.94 on last Friday. The British Pound also gained to 1.5928 against the greenback in Monday’s European trading session as compared to $1.5864 on Friday.
In other currencies Australian dollar surged to 99.54 versus the greenback as compared to US $98.95 on Friday’s late trading session.
The Euro however declined to 1.3285 against the US dollar to $1.3376 on last Friday. The Euro has been under immense selling pressure due to overwhelming auction of government bonds by Portugal and Spain. Moreover warning of inflationary pressure by ECB President Jean-Claude Trichet created more uncertainty among investors.
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Daily forex trading news written by Rehan from DailyForexTrade.com