The US dollar strengthened vs. most major currencies as investors fled to safe-haven currencies amid poor economic data. Confidence among consumers fell as the confidence index dropped to 46.6, lower than forecasts of 49.0. Consumer spending accounts for about 70% of the US economy, so any renewed decline could prolong the economic downturn. The S&P/Case-Shiller home price index rose 0.5% in May for the month, the first gain since July 2006. The index was down 17.1% from the previous year.
The euro weakened against the dollar as a fall in equities due to poor economic data in the US increased risk aversion.
The British pound fell against the dollar as negative data pushed investors into safe-haven currencies. The CBI monthly survey of retail sales showed that a majority of retailers seeing lower sales in the future with a reading of -15, worse than forecasts of -17.
The Japanese yen was stronger as an increase in risk aversion caused by a larger-than-expected drop in US consumer confidence helped the safe-haven currency.
The Canadian dollar weakened against the dollar as crude oil prices fell.
The Australian and New Zealand dollars both strengthened against the dollar as Reserve Bank of Australia 's Governor Glenn Stevens said that Australia 's economic downturn may not be as bad as other post-World War II era recessions. The Aussie touched 0.8338/$, its strongest level since September 29, as traders increased bets that the RBA will start raising interest rates from the current 3% later this year.
10-Year Treasury Note Yield : 3.6542%
Dow Jones Industrial Average : 9043.82 -64.69