On Thursday the dollar surged to a three-month high Vs a currency basket, buoyed by an upbeat tone from the Federal Reserve, while on fresh concerns about Greece’s waning fiscal health the euro tumbled.
Euro against Major currencies
In thin pre-holiday liquidity, the euro reversed to its lowest against the dollar since early September. It picked up pace at $1.4500 after breaking strong support and hitting stop-loss sell orders to take it below the $1.4400 mark.
On trading platform EBS, the euro fell more than 1 percent to $1.4369. This is its lowest since early September. It was trading at $1.4388 EUR=, by 0858 GMT, which is down 1%.
[click to continue…]
Tagged as:
Australian dollar,
Dollar Index,
Federal Reserve,
foreign currencies,
foreign exchange,
foreign exchange market,
Forex News,
FX market,
latest forex news,
Sterling,
U.S. currency,
U.S. economy
On Wednesday after worse-than-expected U.S. private-sector jobs data boosted safe-haven demand, the dollar rose, whereas the yen fell broadly on fears monetary authorities may step in to stem the currency’s strength.
Euro fall
A drop in the euro has been seen by the traders which is ahead of a policy meeting on Thursday of the European Central Bank. In which it is expected to announce the details of how and when it will remove generous liquidity from the system, and could upgrade its economic growth forecasts.
Reasons of Dollars Rise
Reducing fears over Dubai’s debt problems weighed on the safe-haven dollar, but much support has been offered by talk of Asian central bank buying and the greenback’s gains versus the yen.
[click to continue…]
Tagged as:
ADP Employer Services,
Asian central bank buying,
dollar,
dollar index .DXY,
Dubai's debt problems,
electronic trading platform EBS,
EURJPY=,
euro,
European Central Bank,
Forex News,
latest forex news,
U.S. economy,
U.S. private-sector jobs data
