Drop in Confidence
By Allison Bennett and Emma Charlton – Apr 13, 2012
The Dollar Index (DXY) gained as much as 0.7 percent, its biggest intraday jump since April 4, as investors sought safety after the Thomson Reuters/University of Michigan preliminary index of consumer sentiment for April decreased to 75.7 from 76.2 last month.
Intercontinental Exchange Inc.’s gauge, which tracks the greenback against the currencies of six major U.S. trading partners, headed for 0.2 percent loss on the week.
South Korea’s won strengthened after a North Korean rocket launch failed. The currency appreciated 0.5 percent to close at 1,135 per dollar in Seoul, after dropping to 1,147.73 on April 11, the weakest level since Jan. 17.
Australia’s dollar weakened against nine of its 16 major counterparts including the greenback after China said gross domestic product grew 8.1 percent year-on-year in the first quarter, the slowest expansion in almost three years.