Dollar and Yen Rise on Global Slowdown Fears, Euro Eyes PMI Data

5 september 2012,09.05.2012,usd, us dollari japanesse yen,euro,forex news,currency new,forex analysis,currency analysis

The US Dollar and Japanese Yen rose overnight as stocks declined, boosting demand for the go-to haven currencies. The MSCI Asia Pacific regional benchmark equity index fell 1 percent amid global slowdown fears in the wake of disappointing economic data. Australian GDP figures showed output grew 0.6 percent in the second quarter, missing expectations of a 0.7 percent increase. Separately, the AiG Performance of Services gauge showed the non-manufacturing sector contracted at the fastest pace in four months. Meanwhile, the analogous HSBC Services PMI fell to the lowest level in a year.

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