This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Cramer's Action Alerts PLUS - See his portfolio and get alerts BEFORE every trade. Learn more NOW!

Dollar Moves Mostly Higher

Updated from 12:21 p.m. EDT

The dollar was moving up against the euro and the British pound Wednesday as traders shrugged off a bearish housing report and a downturn in U.S. stocks.

Euros were trading for $1.422, below their $1.4258 level late Tuesday. Pounds were selling for $2.0472, down from $2.051 previously.

Speculators who had previously sold the dollar short in the hopes of buying it back at a lower price for a profit have been reversing the trades and hence bidding up the value of the U.S. currency, says Joe Brusuelas, chief U.S. economist at IDEAglobal in New York.

"The dollar has been massively oversold," he says. "They have been short-covering for a couple of days now."

Meanwhile, the yen was stronger, rising to 113.9 from 114.92 a day ago. U.S. dollars were also buying 97.2 Canadian cents, up from 96.6 cents previously. The Australian dollar was virtually unchanged.

The PowerShares DB G10 Currency Harvest (DBV) exchange-traded fund, which tracks a basket of currencies, was falling 0.8% recently.

The CurrencyShares Euro Trust (FXE) was down 0.3%, while the CurrencyShares Japanese Yen Trust (FXY) was up 1% in recent market action.

Elsewhere, the CurrencyShares British Pound Sterling Trust (FXB) was slipping 0.2%, and the CurrencyShares Canadian Dollar Trust (FXC) was down 0.7%.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Try it NOW
Only $9.95
Try it NOW
14-Days Free
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
FXB $145.61 0.28%
FXC $78.50 0.18%
FXY $81.02 0.12%
FXE $105.71 -0.57%
DBV $24.81 0.00%


DOW 17,776.12 -200.19 -1.11%
S&P 500 2,067.89 -18.35 -0.88%
NASDAQ 4,900.8850 -46.5560 -0.94%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs