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) - Get Report
, which follows currencies, was rising 0.3%.
The
CurrencyShares Euro Trust
(FXE) - Get Report
was losing 0.3%, and the
CurrencyShares Yen Trust
(FXY) - Get Report
was gaining slightly.
Elsewhere, the U.S. dollar was little changed against the Canadian and Australian dollars.