The U.S. dollar was broadly lower against the other major currencies on Thursday, as investor demand for the greenback was dented by hopes that U.S. policymakers are close to reaching a deal to avoid a looming fiscal crisis.
While Gold futures soared higher during U.S. trading hours on Thursday, after official data revealed the U.S. economy grew at a faster rate than initially estimated during the third quarter of 2012.
- The Australian dollar was lower against its U.S. counterpart on Thursday, but the Aussie remained supported by hopes fo a deal to avoid a fiscal crisis in the U.S.
- The euro eased higher against the U.S. dollar Thursday, as U.S. fiscal cliff fears and hopes weighed on market direction.
- The pound held steady against the U.S. dollar on Thursday, after the release of positive U.S. economic data, as earlier comments by the Bank of England continued to weigh on demand for sterling.
- The U.S. dollar edged higher against the yen on Thursday, as hopes that U.S. policymakers would reach a deal to avert the U.S. fiscal cliff supported market sentiment.
- Gold futures came off the highest levels of the session during U.S. morning hours on Thursday, trimming gains after official data showed that the U.S. economy grew at a faster rate than initially estimated during the third quarter of 2012.
To download complete report; CLICK: Forex and Gold Daily Report 30 November 2012