CLOSING WRAP - traders pile into US dollar as stocks take a hit
The risk-on sentiment that was seen overnight in the Asian session has since returned, which has pushed the US dollar index higher, in-keeping with the US stocks/dollar inverse correlation, the index is trading +0.12% at $81.58.
The US dollar is mixed heading into the US trading session - EUR 0.11% 1.3174, AUD -0.39% 1.0279, CHF 0.12% 0.9305, and GBP -0.01% 1.5131.
The 17 country currency euro had been trading as high as $1.3318 against the dollar during the afternoon session before dropping sharply as Berlusconi's coalition made significant inroads on the centre-left lead. The euro was trading 0.03% lower for the day against dollar at £1.3184.
Updated projections for the election now put Berlusconi's grouping on the centre right at 31.9% with Bersani's centre-left coalition gaining 28.7% and Grillo's Five Star Movement taking 24.9 and Monti centrist alliance taking 8.4% of the vote.
The euro is trading lower against the majority of its counterparts - USD -0.12% 1.3169, AUD -0.13% 1.2797, CHF -0.18% 1.2258, and GBP -0.83% 0.08693..
At market close:
Story provided by StockMarketWire.com