The U.S. dollar is mostly lower in forex trading on the currency market today. Right now, the U.S. dollar is down against the Japanese yen, Aussie, and sterling. The euro, which had surged higher, is falling back a bit.
U.S. consumer confidence data, showing that the economy is still sluggish, is part of the reason that the things aren’t going so well for the U.S. dollar. It’s also not helping that gold prices have reached new highs.
With pressure on the U.S. dollar, it is surprising that the euro is down. However, the recent concerns about Ireland, re-opening sovereign debt wounds, could be one reason for the euro’s pull back in forex trading.
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