Safe haven currency The US dollar index is higher today, gaining ground as the greenback shows improvement against the euro. Even though the dollar is lower against some currencies, the greenback is showing overall strength, and that is pushing commodities like gold lower.
Meanwhile, UK pound is gaining ground today, heading higher as the latest BOE economic outlook provides some hope for growth. Sterling is on the rise against most of its major counterparts due to the enthusiasm and expectations for the rest of the year.
From Eurozone, The euro fell today as German economic growth trailed forecasts, reducing investors' optimism about the future of the eurozone
The South Korean won declined today on speculations that the weakness of the Japanese yen will prompt nation's policy makers to intervene in an attempt to push the exchange rate lower
Another safe haven currency The Canadian dollar demonstrated a big drop against its US counterpart yesterday and continued to fall today on concerns that Canada's economic growth will trail that of the United States. The currency was also weak against other majors, including the euro and the yen
Gold currency The Australian dollar was soft today after the government forecast that economic growth will slow in the next financial year, adding reasons for the central bank to cut interest rates further
Source: forexnews
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