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Currency Market Analysis

Global Themes

The U.S. dollar returned to its back foot a day after taking Thursday’s session. The dollar index softened toward one-year lows, while the euro moved to within striking distance of 2 ½ year highs. The U.K. and Canadian currencies were little changed. The buck caught a reprieve Thursday after good news on the U.S. economy offered support. Durable goods soared by the most in nearly three years. But the dollar had trouble sustaining the gain after Washington overnight failed to pass a ‘skinny’ measure to repeal health care legislation, keeping the president’s economy-friendly agenda out of sight.

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