Dollar gains from shrinking trade deficit and increasing weaknesses in EU and Japanese economies
Fred Day
Aug. 12, 2008

US Dollar’s upward rise is boosted by the shrinking trade deficit and the increasing weaknesses in EU and Japanese economies.

The U.S. trade deficit unexpectedly narrowed in June as the biggest jump in exports in more than four years overwhelmed record imports of petroleum.

The gap shrank 4.1 percent to $56.8 billion from $59.2 billion in May, the Commerce Department said today in Washington. Shipments to Germany and the U.K. rose more than 4 percent, exports to Italy jumped 9.7 percent, and sales to Argentina and Brazil also climbed.

The German and Japanese economies face economic slowdown. The hawkish stance of the European Central Bank is not helping the Eurozone resulting in the fall of Euro currency against US dollar.

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