The US dollar remained under pressures on Thursday and fell to its ever low versus the Swiss franc. The investors were more focused towards the Japanese Yen and Swiss franc as the surge in oil price made them to look for other safe haven investments.
Moreover the recent hike in US Treasury yields further added to the misery of the greenback as both currencies the Yen and Swiss franc are highly sensitive to US interest rates.
The US dollar declined to 81.92 versus the greenback on Thursday as compared to 82.46 on Wednesday’s North American trading session. The US dollar declined to it’s ever low against the Swiss franc on Thursday and reported the fall of 0.6 percent to 0.9316. The greenback touched it’s lowest of 0.9238 in yesterday’s trading session.
The dollar index DXY which measures the US dollar’s performance versus its major six rival currencies fell to 77.086 as compared to 77.373 on Wednesday.
In opinion of most analysts the Forex market currently seem highly sensitive to US Treasury yields in reaction to which the yen and the Swiss franc are most favorable choices.
The US dollar also weakened against the Euro and British Pound as European Central Bank and Bank of England both are opting for tightened monetary measures like increase in interest rates to address the regions sovereign debt problems. The Euro gained to 1.3802 against the US dollar as compared to 1.3761 on late Wednesday while the British Pound traded around 1.6139 versus the greenback on Thursday slightly changed as compared to 1.6211 on Wednesday.
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Daily forex trading news written by Rehan from DailyForexTrade.com
