US Dollar Index declines due to appearance of Cautious optimism

US dollar index is lower today, as the better part of the news increases the optimism and improves the risk appetite.  The greenback is down again against the euro on better news out of the 17 nation currency and also due to the increase in the consumer spending in United States.

The US index is down today, falling again on the last day of the first quarter of the 2012. Against the euro US dollar is down, due to the new budget announcement from Spain (with cut of 120 billion euro), as the financial leaders announced that the ESM and EFSF together will raise the limit to 800 billion euros for short time.

In the US there are still some hopes due to the increase in the consumer spending in the month of Feb. according to the reports costumer spending has been increased by 0.8%, which is quite better than the earlier anticipations. Although the personal income has not seen as much rise as expected, but the consumer spending has raised some hopes about US economic recovery.

The dollar index is lower down at 79.07 from the opening of 79.29.

At 14:20 GMT EUR/USD went up to 1.3340 from the opening at 1.3306. GBP/USD also went up to 1.6007 from the open at 1.5958.

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