By Cornelius Luca
New York, July 11 (BridgeNews) - The U.S. dollar came under selling pressure across the board after peaking on July 6 on concerns about the domestic equity markets. Traders have also reacted with delay to Bank of England Governor Eddie George's Monday night that the dollar strength created imbalances. The euro climbed to a two-week high of 86.22 cents, while the dollar slipped to a one-week low of 124.33 yen.
Sterling/dollar clocked a nine-day high of 1.4174, dollar/Swiss franc fell for the fourth consecutive day to mark a two-week low of 1.7624, while dollar/Canada, bucking the trend, edged higher, although within recent ranges. With no domestic economic data scheduled for release Wednesday, U.S. traders will likely take their cues from the beleaguered equity markets. The Nasdaq ended Tuesday at its lowest level since April 17 and the Dow industrials posted triple-digit losses as investors worried that companies will not meet already lowered earnings estimates in the weeks ahead.
The Dow Jones industrial average ended down 123.76, or 1.20%, to 10,175.64 and the Nasdaq Composite index was down 63.92, or 3.15%, to 1962.79. The S&P 500 fell 17.26, or 1.44%, to 1181.52.The intraday outlook for the dollar is slightly bearish.

Current Previous Change Global Global
NY open NY close low high

USD/JPY 124.51 125.32 -0.81 124.33 125.76
EUR/USD 0.8605 0.8550 0.0055 0.8533 0.8622
EUR/JPY 107.23 107.28 -0.05 106.87 107.98
GBP/USD 1.4158 1.4111 0.0047 1.4102 1.4174
USD/CHF 1.7656 1.7785 -0.0129 1.7624 1.7814
USD/CAD 1.5208 1.5194 0.0014 1.5187 1.5218
AUD/USD 0.5109 0.5093 0.0016 0.5090 0.5124
NZD/USD 0.4069 0.4058 0.0011 0.4056 0.4087
SP.1 1184.00 -2.50 1183.90 1190.00
ND.1 1637.00 -1.00 1622.50 1654.00