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
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

USD Continues Rise Amid Doubt Over Greece

NEW YORK ( BBH FX Strategy) -- The U.S. dollar is continuing its broad rally as doubts over Greece persist, although currencies continue to trade in relatively tight ranges.

Overall, G10 currencies are mostly weaker against the dollar with the Japanese yen down 0.6%, currently trading at 80.31. Sterling is trailing gains in the yen, down 0.5% against the dollar. The Bank of England minutes revealed a more dovish voting arrangement than expected with two members voting for a 75-billion-pound expansion of QE.

The euro continues to slide for the second day, down 0.1% to 1.322 but is likely to remain confined to its recent range of 1.298 to 1.330. Near-term support is seen at 1.313 with resistance seen at the upper end of the recent range. The Australian dollar is trading lower to 1.063.

Global equities are mixed with the MSCI Asia Pacific Index up 0.09%, while the EuroStoxx 600 is down 0.8%.

Follow TheStreet on Twitter and become a fan on Facebook.

While European drama continues to command attention, the yen has quietly depreciated and is now at its lowest level against the U.S. dollar since last July and is at four-month lows against the euro. The unexpected increase in the Bank of Japan's asset purchases (QE) announced on Feb. 14 helped accelerate the yen's slide.

On the data front, eurozone PMIs for February surprised on the downside, with the composite PMI output slipping below 50 (to 49.7) after a slight expansion in January (at 50.4). The extreme cold spell in February may have dented sentiment to some degree as it kept consumers at home and halted construction projects.

On the other hand, the worse-than-expected headline numbers in both sectors may reflect some payback from the improvement in January when the mild weather may have distorted the figures. In any event, it remains to be seen if this is a temporary setback or the start of a renewed downtrend.

The data highlights that the eurozone is not out of the woods yet. In fact, growth disparities are getting more pronounced between as a result of the debt crisis, which is forcing governments to implement stark austerity measures.

1 of 2

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

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
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

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

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, 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
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
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!


DOW 17,804.80 +26.65 0.15%
S&P 500 2,070.65 +9.42 0.46%
NASDAQ 4,765.38 +16.9840 0.36%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

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