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    The dollar continued broadly lower against other majors

    On Tuesday, the dollar continued broadly lower against the other major currencies, as worries over global economic growth continued to dominate market sentiment.
    The Japanese yen reinforced as Japan’s Nikkei closed downward 5.4% overnight, the largest fall in three years amid mounting fears over the health of the global economy and the financial sector. As a result the dollar dropped 0.87% against the yen, with USD/JPY to trade at 114.84, a more than one-year low.
    The single currency rose 0.39% against the dollar, with EUR/USD to trade at 1.1237. Data earlier evidenced that German industrial output unexpectedly fell 1.2% in December, indicating that the region’s largest economy ended 2015 on a weak ground.
    The dollar inched higher against the Sterling pound, with GBP/USD down 0.12% at 1.4414 and was lower against the Swiss franc, with USD/CHF declining 0.86% to 0.9783.
    The U.K. Office for National Statistics announced today that the total trade deficit widened to £10.3 billion in the fourth quarter from £8.5 billion pounds in the previous quarter, marking the biggest trade gap since the start of 2015. The annual trade deficit widened to £34.7 billion in 2015, up from £0.3 billion in 2014.
    The U.S. dollar slid lower against its Canadian counterpart, although declining oil prices continued to weigh on the commodity related currency. USD/CAD slipped 0.33% to trade at 1.3881.
    Meanwhile, the Australian and New Zealand dollars were weaker, with AUD/USD down 1.42% at 0.6988 and with NZD/USD retreating 0.78% to 0.6577. The National Australia Bank earlier reported that its business confidence index ticked down to 2 in January from 3 the previous month, in line with expectations.
    The U.S. dollar index, which measures the greenback’s strength against a trade-weighted basket of six major currencies, was down 0.36% at 96.41.

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