US dollar index is slipping today as forex traders reset their positions, and as the euro gains ground on the prospect that Greece might actually make it through 2015.
Even though the US dollar is trading mostly higher against its major counterparts, the dollar index is lower today. Forex traders are consolidating some of their positions and considering what might be ahead later in the year. Speculation about when the Federal Reserve will raise rates remains a point of interest for many.
Also weighing on the dollar index today is the success of the euro in Forex trading. The 19-nation currency is finding some support on the idea that Greece might make it through 2015 — and then be basically home free. The fact that the euro is so heavily weighted in the dollar index basket of currencies makes a difference in the overall performance of the index, even if the dollar is higher against other currencies.
At 11:14 GMT the US dollar index is down to 97.9190 from the open at 98.0210. EUR/USD is higher, moving up to 1.0738 from the open at 1.0725. GBP/USD is lower, falling to 1.5000 from the open at 1.5036. USD/JPY is a little higher, moving up to 119.9880 from the open at 119.9120. USD/CAD is up to 1.2243 from the open at 1.2238.
If you have any questions, comments or opinions regarding the US Dollar,
feel free to post them using the commentary form below.