Dollar Steady, Euro Holds Losses After German Data
The dollar rose versus most Group-of-10 peers yet was little changed on a trade-weighted basis as trading thinned heading into the US Thanksgiving holiday.
The Bloomberg Dollar Spot Index consolidates near Wednesday lows while cash trading is shut for Treasuries; spot volumes were near recent averages during the Asia session yet drop after the London open, a Europe-based trader says.
Month-end flows and position squaring ahead of Thanksgiving are “probably the bigger influence” over currencies than fundamentals, said Rodrigo Catril, a senior FX strategist at National Australia Bank.
A Citigroup gauge that signals positioning of currency funds on the dollar climbed to the highest since August 2023, indicating that they have boosted bullish wagers on the greenback.
EUR/USD drops as much as 0.4% to 1.0528; CPI data from individual German states suggest a small rise of headline HICP inflation in November, broadly in line with consensus expectations, according to Bloomberg Economics.
France’s benchmark bond yield matched Greece’s for the first time on record; Finance Minister Antoine Armand said he is prepared to make concessions on the 2025 budget bill to avoid opposition parties toppling the government in the coming weeks.
USD/JPY rises as much as 0.6% to 151.95 after falling more than 2% in the past three sessions.
GBP/USD drops 0.3% to 1.2645 day low; USD/CHF up 0.3% to 0.8845.
Source : Bloomberg
