The Greenback is back on the spot on Wednesday, boosted with less safe-haven appeal amid what seems to be an eased debt worries in the 17-bloc euro area, however worries are out there ahead of Spain's upcoming bond auction.
Amid a lack of major fundamentals from the world's largest economy but with yesterday's boost from the International Monetary Fund and its upgrade for global growth outlook, The USDIX, which tracks the U.S currency against six of it's most-traded peers, rose to 79.76 from 79.65.
Gold price lacked upside support as the dollar rose on Wednesday, as the metal fell for the third day trading around $1641.40 an ounce from $1669.72. Crude oil for May 12 delivery fell to trade around $102.70 a barrel from $104.26, slightly above the $102.20 daily low after printing an $104.49.
Weekly levels of oil inventories in the U.S. recorded a fourth-straight weekly buildup according to the Energy Information Administration and the U.S. Department of Energy, as weekly petroleum status report showed today that crude oil stockpiles in the U.S. rose by 3.9 million barrels in the previous week.
The 17-nation common currency was little changed against the greenback ahead of tomorrow's bond Spanish bond auction, trading around $1.3118 from the opening level of $1.3126, after setting a daily a high of $1.3141 and a low of $1.3055.
The Sterling pound rallied to $1.6019 today against the U.S dollar after recording a fresh daily high of $1.6041 as the Bank of England hinted it has called time on its money printing program amid fears over inflation.
The greenback surged to 81.27 yen against it Japanese counterpart, following an improved risk-appetite for the U.S. currency amid easing worries over Europe's debt crisis following a pretty good Spanish bond auction yesterday.