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Dollar Trades Flat

From Standard & Poor's Equity Research

Action Economics: The dollar was unmoved by the slightly lower than expected jobless claims print, and traders generally report limited interest in early N.Y. trade. The greenback is back near the top of its one-month trading band, and with range trade mentality still in place, further gains will likely be limited for now.

Among other currencies, the euro has continued to retreat against both the U.S. dollar and Japanese yen, in addition to some other currencies, such as the Canadian dollar. Other European currencies declined in step with the euro. The sharp rebound in the yen after a German official said that the "weak yen" would be on the agenda of the forthcoming G7 meeting, saw euro-yen come under particular pressure, to some consequence of the euro against other currencies.

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