Forex – Dollar Remains Moderately Lower Vs. Rivals, U.S. Data Ahead

© Reuters. Dollar still on the downside ahead of U.S. economic reports – The dollar remained moderately lower against other major currencies on Thursday, as investors remained cautious ahead of a flurry of U.S. economic reports due later in the day.

Market participants were looking ahead to the release of U.S. data on , , and .

The dollar has been pressured lower recently by concerns the global economic recovery will outpace U.S. growth and prompt other major central banks, including the European Central Bank to begin unwinding loose monetary policy at a faster pace.

The , which measures the greenback’s strength against a trade-weighted basket of six major currencies, was up 0.15% at 90.51 by 05:15 a.m. ET (09:15 GMT), off the previous session’s fresh three-year trough of 89.97.

The euro and the pound were higher, with up 0.25% at 1.2215 and with adding 0.08% to 1.3838.

The euro has strengthened broadly since last week’s minutes of the ECB’s December meeting boosted expectations that policymakers are preparing to wind down their bond buying stimulus program.

The yen held steady, with at 111.35, while declined 0.42% to 0.9616.

Elsewhere, the Australian and New Zealand dollars were stronger, with up 0.10% at 0.7975 and with gaining 0.25% to 0.7288.

Data earlier showed that pace in the fourth quarter, helped by strong export growth and a rebound in the industrial sector.

China is Australia’s biggest export partner and New Zealand’s second biggest export partner.

Meanwhile, was almost unchanged at 1.2438.

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