Dollar Drifts Lower by Korman Tam
The greenback drifted lower against the major currencies in a quiet session to end the week, slipping toward the 1.40-level against the euro and 96-figure versus the yen. US equities were mixed with the Nasdaq edging higher to 15.53-points to 1823.18 while the Dow Jones slipped by 27.73-points to 8,528.25.
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Germany ZEW Buoys EUR
The euro edged up slightly higher against the greenback on better than expected Eurozone data. Germany’s June ZEW sentiment survey unexpectedly surged to 44.8 – its highest level in 3-years, up sharply from 31.1 a month earlier and sharply beating estimates for an increase to 35.0. The current conditions component improved to -89.7 in June versus -92.8 in May. While the surge in ZEW propped the single currency higher, the euro was unable to sustain gains above the 1.40-level.
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