Dollar Slightly Up Against Most Majors

Posts : 8759 Join date : 2012-01-25

Dollar Slightly Up Against Most Majors

The U.S. dollar has been gaining slightly against most major currencies in early European deals on Monday after moving sideways in Asian trading.
The recent price action in some currencies came amid Spanish GDP data, which showed that the economy contracted 0.4 percent quarter-on-quarter in the second quarter.
The second quarter GDP came in ine with Bank of Spain estimates following a 0.3 percent contraction in the final quarter of 2011 as well as in the first quarter of 2012.
Annually, the gross domestic product contracted 1 percent. This also matched the central bank's estimate.
The dollar is currently worth 1.2274 per euro, 0.9787 against the franc and 1.5698 against the pound.
If the dollar rises further, it will target 1.225 against the euro, 1.568 against the pound and 0.985 against the franc.

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