The dollar is rising against all of its major rivals Monday afternoon. The lack of U.S. economic data is keeping some investors on the sidelines. Things will remain quiet on the economic front Tuesday, but will begin to pick up on Wednesday with the release of new home sales data and the Beige Book.
Concerns over Italy eased after Moody’s Investors Service cut the country’s credit rank by one step to Baa3, but set the outlook for the assessment at “stable”, removing the immediate threat of a downgrade to junk.
The dollar dropped to an early low of $1.1549 against the Euro Monday, but has since bounced back to around $1.1465.
The buck slide to a low of $1.3089 against the pound sterling Monday, but has since rebounded to around $1.2975.
The greenback rose to a high of Y112.885 against the Japanese Yen Monday, but has since eased back to around Y112.785.
Japan’s all industry activity rebounded in August, figures from the Ministry of Economy, Trade and Industry showed Monday.
The all industry activity index climbed 0.5 percent month-on-month in August, reversing a 0.2 percent drop in July and a 0.9 percent decrease in June. Economists had forecast a monthly growth of 0.4 percent.