Forexlive Americas FX news wrap: Stocks, crude lower. USD gains. | Forexlive
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Markets:
Gold up $6 to $2179WTI crude oil down 58 cents to $81.54S&P 500 down 0.3%
There was no great drama in the market on Tuesday but the economic data had a tinge of weakness and the Treasury auction was strong. Despite that, the US dollar strengthened and flows are an obvious suspect. There was a strong bid in USD/JPY into the London fix and the dollar fell on other crosses as well.
EUR/USD rose to 1.0860 in Europe but slowly tracked 30 pips lower in North American trade. GBP/USD followed a similar path down to 1.2826.
The commodity currencies also tried to make moves in Asia but gave back the gains in a 30 pip round trip that left them largely unchanged on the day.
Oil strengthened early but gave it back and more on steady North American sales that accelerated after the API oil inventory data. Gold tried for $2200 but came up just short and then sagged to $2178.
USD/JPY steady near the top of its recent range:
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