Dollar Further Depletes After Disappointing Data


In early European trade, the dollar prices remained disappointingly low on Friday. It was pulled lower by abysmal housing, employment and tech sector data that is suffering from explicit sells in the equity market.

The dollar index was down at 92.823 (0.2 per cent). Against the basket of 6 currencies, it tracks the movement of the greenback. On the other hand, the EUR/USD surged to 1.1865 by 0.2 per cent. However, USD/JPY remained stable largely but managed to earn 1.5 per cent profit over the week.

Interestingly, the employment data announced on Thursday showed the claimed job losses were lesser than anticipated during the period. It drove to some hopes to investors.


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