News Column

Dollar Mixed On Fiscal Cliff Concerns

Dec. 18, 2012

The U.S. dollar traded mixed against major currencies in late New York trading Monday as ongoing "fiscal cliff" negotiation worried investors.

The ongoing "fiscal cliff" negotiation continued to be a major issue on the market. The House Speaker John Boehner said over the weekend that he may accept the proposal of tax increases for the richest Americans, which brought hope that the "fiscal cliff" problem could be solved. The dollar surged against the Japanese yen Monday, touching nearly 2-year high, as the victory of the Japan's Liberal Democratic Party in the country's national parliamentary elections raised expectations of further monetary easing.

On the economic front, the Empire State Index for manufacturing activities fell to minus 8.1, dropping for five-consecutive month. The disappointing economic report showed that manufacturing activities were still weak.

The dollar index lost 0.047 to 79.513 Monday. In late New York trading, the euro rose slightly to 1.3160 dollars from 1.3159 dollars of the previous session and the British pound also climbed to 1.6203 dollars from 1.6167.

The dollar dropped to 0.9170 Swiss francs from 0.9178 and fell to 0.9842 Canadian dollars from 0.9863. The dollar bought 83.83 Japanese yen, surging from 83.46 in the previous session.

Source: Copyright Xinhua News Agency - CEIS 2012

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