| | |  Business News | August 2008 
US Dollar Spikes Higher Against Major Latin American Currencies
 RTTNews
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The US currency advanced against its major Latin American counterparts during New York trading on Tuesday. The greenback climbed to 6-day highs against the Brazilian real and the Colombian peso, 1-week high versus the Mexican peso and a multi-week high versus the Chilean peso in this session.
Tuesday morning, the US Department of Commerce released its report on new home sales in the month of July. The report showed that the new home sales surged up 2.4 percent to an annual rate of 515,000 in July from the revised June rate of 503,000. Economists had expected sales to fall to a rate of 525,000 from the rate of 530,000 originally reported for June.
According to a report released by US the Conference Board on Tuesday that the consumer confidence index jumped to 56.9 in August from an unrevised 51.9 in July.
Against the Brazilian real, the US currency ticked up during New York trading on Tuesday. At about 8:15 am ET, the pair edged up to a 6-day high of 1.6450, compared to yesterday's New York session close of 1.6310. Currently, the dollar-real pair is trading at 1.6390. The dollar has been in an uptrend against the real since 22 August.
The US dollar trended up to a 1-week high of 10.1943 against the Mexican peso by about 8:30 am ET, compared to early low of 10.1389. The greenback- Mexican peso pair closed Monday's deals at 10.1401. As of now, the pair is worth 10.18.
The US dollar gained against the Chilean peso during New York early morning deals on Tuesday. At about 8:50 am ET, the greenback climbed to a multi-week high of 524.65 versus the peso from yesterday's close of 520.75. Thereafter, the pair reversed its direction and currently, it is trading at 522.35.
Against the Colombian peso, the greenback surged to a 6-day high of 1894.50 by about 12:05 pm ET, which may be compared to Monday's New York session closing value of 1869.50.
The dollar, which closed yesterday's New York session at 2.9080 against the Peruvian Nuevo Sol, soared to 2.9650 in New York afternoon trading today. |
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