U.S. Dollar Declines Across The Board

[Lucas]

The greenback declined on Friday, paring its advances for 2012, as the Federal Reserve’s decision to start a third wave of quantitative easing was seen as devaluing to the U.S. currency, while, at the same time, it sparked a buying wave in commodities and stocks. The ICE dollar index, which tracks the performance of the U.S. dollar against a basket of six major currencies, slipped to 78.731 – its lowest rate since May this year and down from the low of 79.254, which we hit on Thursday. The euro climbed to $1.3106 adding to the gains the currency posted on Thursday. The common currency soared as high as $1.3168, pushing above the $1.31 level for the first time since early May. The currency is also higher than it was in the beginning of 2012.

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