Traders remained hesitant Wednesday, keeping U.S. indices on the defensive.
Stocks were mainly in the red most of the day, but turned up towards the close
The U.S. dollar meantime dived again.
At the end of trading the Dow Jones Industrials were down 41.90 points or 0.34% to 12,254.99.
The Nasdaq Composite was up 12.53 points or 0.55% at 2,272.81.
The Standard and Poor's 500 at 1,333.70 was up 6.95 points or 0.52%.
The euro rose to a new record high against the dollar at 1.5275. Around the New York close it was quoted at 1.5264.
The Swiss franc climbed to 1.0364, and sterling to 1.9910.
The Australian dollar moved up modestly to .9336, while the Canadian dollar, recovered from the Bank of Canada 50 basis points rate cut earlier this week. It was quoted at .9852.
The Japanese yen was a touch weaker at 104.04.
Foreign exchange traders have sold the already beleagured dollar off sharply, following a string of Fed rate cuts since September last year, which has seen official interest rates reduced from 5.25% to 3%. Federal Reserve Chairman Ben Bernanke has hinted rates will be cut further if conditions warrant it.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment