More good news in Europe means bad news for the US Dolla.
The dollar showed little direction versus other major currencies on Tuesday, failing to sustain its overnight gains against the resilient euro.
A brief rally brought on by S&P's downgrade warning on Germany and France fizzled out, leaving the dollar within its stubborn trading range against the euro. The pair was at $1.3425 this morning, after the dollar topped out at $1.3322 overnight.
German factory orders recovered at a faster-than-expected pace after falling for three consecutive months suggesting that the power house of Eurozone is yet to see a general slowdown in the fourth quarter.
Fueled by foreign demand, factory orders grew 5.2 percent in October from a month ago, the Federal Ministry of Economy and Technology reported Tuesday.
