Even with deflation worries increasing in the eurozone, the 18-nation currency is gaining some ground against the US dollar right now.
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The US dollar is slipping today, heading mostly lower as the latest economic data disappoints. Concerns about the still-slow economic recovery continue are holding the greenback down right now.
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UK pound is pulling back today, following a strong run earlier. Sterling has been enjoying unprecedented strength, and is now taking a bit of a breather as traders and others re-assess the situation.
US dollar is heading higher again today, gaining against its major counterparts as European currencies struggle. Positive economic data in the United States is helping, as are concerns about what’s next for some of the European currencies.
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The latest news out of Germany is weighing on the euro, sending it lower against many of its major counterparts, including resulting in a three-month low against the US dollar.