USD Trading Outlook (02-01-2012)

The US dollar lost ground on Friday against a basket of currencies in thin trade. Optimism that the US economy is improving was boosted after economic data showed Pending Home Sales, Consumer Confidence, Housing Starts, Building Permits and Existing Home Sales rose more than expected. Versus the Japanese yen, the greenback dipped to 76.79 from 77.73, a decline of 1.2%.

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