Dollar Ticks Up Vs. Euro
The greenback was edging higher against the euro Wednesday, a day after its downward break to an all-time low in the wake of the Federal Reserve's rate cut.
Euros were changing hands for $1.3962, down from $1.397 late Tuesday. Dollars fell to 115.75 yen from 116.23 yen a day earlier. The pound was selling for $2.0134, up from $2.012 previously.
"The currency appears to be entering a period of consolidation before extending its losses further," writes the foreign exchange team at Brown Brothers Harriman, in a recent market brief.
The PowerShares DB G10 Currency Harvest (DBV), which follows currencies, was rising 0.3%.The CurrencyShares Euro Trust (FXE) was losing 0.3%, and the CurrencyShares Yen Trust (FXY) was gaining slightly. Elsewhere, the U.S. dollar was little changed against the Canadian and Australian dollars.
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