USD Trading Outlook (30-11-2011)
The US dollar edged lower yesterday as the eurozone officials’ meeting initially resulted in a heightened risk appetite. During the US session the greenback rebounded as risk appetite started to fade and US equities jumped after data showed US Consumer Confidence bounced in November indicating that the US economy remains strong. Versus the Japanese yen, the greenback dipped to 77.62 from 78.28 but later the pair rebounded to 78.10. Attention shifts to ADP Employment Change expected later today.
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