Dollar Exhibits Mixed Trend Against Major Peers

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Dollar Exhibits Mixed Trend Against Major Peers

The U.S. dollar is turning in a mixed performance on Friday with traders weighing the recent monetary policy announcements from the Federal Reserve and the Bank of England.

Traders also digested the most recent economic data and continuing to react to the developments on the geopolitical front.

The dollar index climbed to 98.62 but retreated gradually to 98.21. Still, it remains firmly up above the flat line, gaining about 0.25%.

Against the Euro, the dollar is trading at $1.1051, firming from $1.1094.

The dollar is trading at $1.3180 against Pound Sterling, weakening from $1.3148.

Against the Japanese currency, the dollar is firm, fetching 119.13 yen per unit, compared to 118.60 yen on Thursday.

Against the Aussie, the dollar is at 0.7413, down from 0.7375.

The Swiss franc is firmer at 0.9322 against the dollar, while the Loonie is stronger at 1.2594 a dollar.

In U.S. economic news, a report released by the National Association of Realtors showed existing home sales plunged by 7.2% to an annual rate of 6.02 million in February after surging by 6.6% to a revised rate of 6.49 million in January.

Economists had expected existing home sales to tumble by 6.2% to a rate of 6.10 million from the 6.50 million originally reported for the previous month.

The steeper than expected pullback came after existing home sales reached their highest annual rate in a year in January.

A separate report from the Conference Board showed its U.S. leading economic index rose by slightly more than expected in the month of February. The Conference Board said its leading economic index increased by 0.3 percent in February after falling by a revised 0.5 percent in January.

Economists had expected the leading economic index to edge up by 0.2% compared to the 0.3% drop originally reported for the previous month.

The material has been provided by InstaForex Company – www.instaforex.com

Source: Dollar Exhibits Mixed Trend Against Major Peers

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