U.S. Dollar Climbs On Durable Goods Orders, Ukraine Tensions
April 24 2014 - 9:16AM
RTTF2
The U.S. dollar advanced against other major currencies in early
New York deals on Thursday, as the nation's durable goods orders
grew more-than-forecast in March.
Reports that Russia started military drills in Ukraine also
lifted the dollar on safe-haven status.
The data from the Commerce Department showed that U.S. durable
goods orders surged up by 2.6 percent in March, versus forecasts
for 2.0 percent increase.
The greenback spiked up to a 2-day high of 0.8855 against the
franc, reversing from an early low of 0.8814. The next possible
upside target for the greenback is seen around the 0.89 area.
The greenback appreciated to 102.65 against the yen, after
having fallen to 102.25 around 11:50 pm ET. If the greenback
extends gain, it may face resistance at the 103.9 zone.
The greenback recovered from an early low of 1.6807 against the
pound, reaching as high as 1.6766. On the upside, 1.67 is seen as
the next resistance level for the greenback.
After falling to 1.3843 against the euro in early European
deals, the greenback advanced to a 2-day high of 1.3792. The
greenback is likely to test resistance around the 1.37 mark.
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