Global Currencies Positive data out of the U.S. had the dollar heading towards a weekly gain against 13 of its major counterparts, as the news fuels concerns that the Fed Reserve could start to cut stimulus spending. The Bloomberg U.S. Dollar Index showed the currency up 0.4 percent for the week after rising 0.2 percent on Friday to 1,021.71. Stimulus concerns similarly affected the Brazilian real, as it headed for its worst weekly decline in 2 months – dropping 3.4 percent for the week after falling 0.6 percent on Friday to 2.3538 per dollar. The Canadian dollar fell 0.4 percent on Friday to C$1.0346 against dollar on concerns that growth is trailing the U.S. after June manufacturing data showed declines. For the week, the loonie is down 0.6 percent against the dollar
Posted on: Sat, 17 Aug 2013 18:38:24 +0000
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