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    Forex News from New Forex: The dollar slides against the main currencies

     

    The US dollar loses ground against the main currencies in the trading on Wednesday. Uncertainty over the interest rate hike puts pressure on the US currency. The pair dollar/yen shed 0.23% to 107.08. Euro/dollar added 0.19% to 1.1377.

    The pound sterling hit an intraday high today after the release of industrial data. In April the industrial output climbed 2.0% after a 0.3% rise in March reaching a high since July 2012. Manufacturing production gained 2.3% after a 0.1% increase in March. The currency pair pound/dollar picked up 0.14% to 1.4562, euro/pound stands at 0.781 ( 0.04%).

    The greenback tumbled 0.48% against its Canadian counterpart. Rising oil prices lend support to the loonie. The dollar index slipped to 0.20% to 93.65.

    European markets decline amidst the downward trend of Asian markets. The pan-European index STOXX 600 slid 0.41%.

     The dollar slides against the main currencies

    NewForex Analyst

    Michael Butnitsky


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