US dollar is heading higher on the Forex market, gaining as traders look for safe haven in the face of more European troubles. This time, it’s a credit rating cut for Belgium.
US dollar is getting a boost today, rising against majors as US stocks move modestly lower on Black Friday. High beta currencies are heading lower today as concerns about what’s coming worry investors and Forex traders alike. European stocks might have ended higher today, but European currencies are struggling.
Greenback is higher against the euro and the pound today, with EUR/USD heading below the 1.3300 level. Troubles in Europe continue to mount, especially after the the press conference from three European leaders, expressing their belief that the ECB shouldn’t issue joint euro bonds. The news has Forex traders convinced further that eurozone problems won’t be solved anytime soon.
As a result, the US dollar is looking better and better. Indeed, greenback is even up against the Japanese yen, as Jun Azumi, Japan’s Finance Minister, reaffirms that the country’s leaders are willing to intervene if the yen appreciates too quickly.
At 20:53 GMT, EUR/USD is lower at 1.3236, down from the open at 1.3347. GBP/USD is lower at 1.5448, down from the open at 1.5496. USD/JPY is higher at 77.7385, up from the open at 77.1155.
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