The US dollar gained versus its major counterparts on Wednesday as the single currency weakened after the release of sluggish euro zone’s manufacturing data and high unemployment in the single currency region. According to the latest data, unemployment in the euro zone reached its highest level to 10.9 percent in the month of March as compared to 10.8 percent in February.
The euro fell to 1.3157 versus the US dollar on Wednesday as compared to 1.3239 on Tuesday’s late trading hours. The single currency also declined 0.5 percent versus the British Pound to 81.22 pence while the pair EUR/GBP touched its intraday low of 81.11 pence which is its lowest since June 2010.
The dollar index DXY which tracks the greenback’s movement against the basket of its six major rival currencies gained to 79.151 on Wednesday as compared to 78.829 on Tuesday’s North American trading session.
Among other major currencies, the British Pound declined to 1.6204 against the US dollar on Wednesday as compared to 1.6225 on late Tuesday. Against the Japanese yen, the greenback fell to 80.16 on Wednesday as compared to 80.20 on Tuesday’s late trading hours.
The Australian dollar remained lower in reaction to huge interest rate cut by the Reserve Bank of Australia and the Australian unit fell to 1.0329 versus the US dollar on Wednesday as compared to 1.0335 on late Tuesday.
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