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!

Currencies: End to Election Brings No Support for Dollar

After five weeks of a weakening dollar being blamed on the presidential race, the end to the election has brought no support for the U.S. currency.

Political certainty was expected to strengthen both the equity markets and the currency markets, but Dow futures are 75 points in the red this morning.

"The anticipatory nature of the markets suggests the news was already discounted...especially in the foreign exchange market," the Mellon Global FX News and Views report wrote this morning.

The dollar was weaker versus most major currencies prior to the morning's Account Deficit report. There was little change in currency values after the report was released.

This morning's report reflected the belief that inflation is not a worry right now. The November Producer Price Index increased by 0.1%, while the Core PPI for November remained unchanged. The number of jobless in the country dropped to 320,000 from 352,000.

The only upward move in the dollar today is against the yen. "There's a sense that there is an increase of capital flow out of Japan, and an increase into Europe," said Paul Podolsky, currency strategist at Fleet Bank. The dollar hit 16-month highs versus the yen for the second day in a row this morning. The dollar/yen cross was recently at 112.59, up from yesterday's close of 112.36.

The dollar is falling against other major world currencies. As expected, the European Central Bank left interest rates unchanged at their meeting today. The euro was trading at $0.8839 recently, up from $0.8766 at yesterday's close. The euro/yen cross continues to creep up today, trading at 99.47, from a close yesterday of 98.43.

The British pound is strengthening against the dollar, recently trading at $1.4676 from $1.4553, up over a penny on this morning's news. The Australian dollar is moving up on the U.S. currency, recently at $0.5416 from a close yesterday of $0.5396.

Canadian consumer prices rose sharply in November. The U.S. currency was recently trading at C$1.5210, down slightly from yesterday's close of C$1.5216.

Back to top

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 17,637.57 +280.70 1.62%
S&P 500 2,042.67 +29.78 1.48%
NASDAQ 4,714.2930 +69.9810 1.51%

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