Friday, 18 Dec 2009

Dollar Retreats Slightly in Mixed Trading Day

The Dollar is experiencing a mixed trading day today in Asian and European trading, with data released so far having minimal effect. The EUR was up at $1.4391 from $1.4336, and the Pound was up at $1.6212 from $1.6156. The Dollar was at Y90.20, up from Y89.95.

The German December Ifo business climate survey improved from November across all components, with the business climate index up at 94.7 from 93.9, business conditions at 90.5 from 89.1 and business expectations up at 99.1 compared with 98.9 in November. The Bank of Japan unanimously voted to keep its overnight call rate target at 0.1%. It also emphasized the need to pull Japan out of deflation, stating that it wouldn't tolerate an inflation level below 0%.

No data scheduled from the U.S. Friday, therefore for NY trading hours, investors will likely pay attention to the stock market.