Stock:
Symbol Lookup
Register | Login
...
History
...
...

Pre Market | Dow Jones | Gold | Newsletters | Learn


Forex Market Update: Dollar Still Broadly Higher but Rally Pauses

Friday, June 21, 2013 9:12 AM
The U.S. dollar index recoiled from its two-week high on Friday but was still on course to log its best weekly performance in last 12 months as global investors sought safety in the U.S. dollar amid rout in riskier assets. Investors sold riskier assets and even treasuries, in hordes, after the Federal Reserve signaled at possible scaling back of its multi-billion dollar asset purchase program by the year-end, earlier this week. The dollar Index, a gauge on U.S. unit’s performance against a basket of six major traded currencies, slipped to 81.816 on Friday from 81.145, which was its two-week high. For the week, the dollar index is still gaining 1.4%, showed a data provided by Reuters. The dollar’s rally paused on Friday as speculators chose to book profits. However, the euro is still trading sharply lower against the U.S dollar. At last check, the euro fell 0.35% against the USD to trade at $1.3173. Several factors are weighing on the euro. Some peripheral economies of the euro zone have seen their bond yields soaring lately while interest rate differentials are also favoring the U.S. dollar. Moreover, concerns over political stability in Greece have resurfaced yet again which in turn could keep investors wary of the single currency. “I see a continuation of the trend of a stronger dollar. An improved set of U.S. macro fundamentals and likely tapering (by the Fed) by the end of the year will benefit it,”  said Neil Jones, who is head of hedge fund FX sales at Mizuho Corporate Bank, according to Reuters.  
PRINT

FREE Options Trading Lessons
I'll show you how to unlock HUGE Gains with Options Trading
Let's make 2014 the year you get RICH!

Latest Headlines

Exclusive: China ready to cut rates again on fears of deflation - sourcesExclusive: China ready to cut rates again on fears of deflation - sources
BEIJING (Reuters) - China`s leadership and central bank are ready to cut interest rates again and also loosen lending restrictions, concerned that falling prices could trigger a surge in debt defaul...
Falling inflation a worry for Europe but also the worldFalling inflation a worry for Europe but also the world
LONDON (Reuters) - European Central Bank President Mario Draghi has moved closer to launching sovereign debt purchases and data this week will show just how dangerously low inflation has fallen in t...
Countdown to missed opportunity for EU economyCountdown to missed opportunity for EU economy
PARIS (Reuters) - The countdown has begun to what threatens to be a missed opportunity to revive Europe`s stalled economy. When European Union leaders meet on Dec. 18-19 under new management, they...
Sweden's Wallenberg dynasty prepares for sixth generationSweden's Wallenberg dynasty prepares for sixth generation
STOCKHOLM (Reuters) - Jacob Wallenberg, the 58-year-old head of one of Europe`s most enduring family dynasties, is trying to work out how the empire controlling much of Sweden`s economy could look w...
China rate cut knocks legs from under yuan rally, more volatility seenChina rate cut knocks legs from under yuan rally, more volatility seen
SHANGHAI (Reuters) - China`s surprise interest rate cut is another step toward softening the country`s exchange rate, setting the yuan on course to end the year lower for the first time since its la...

Loading Headlines...
 

Stock Market

Track the stock market today with the latest news and information on all things investing! Watch your stocks perform throughout the day and watch the breaking stock market news.

Feedback | disclaimer | privacy policy

Stock Market News

The Stock Market is ever changing. Keep up on your stock market news.

Stock Market Newsletters

Read up on your favorite stock market newsletters.


Learn the Stock Market

Sharper your stock trading skills with our stock market education section.

Algorithm Based
Trade Signals
arrow
small cap swing trades SmallCaps stocks under $10
Index Signals Index Signals SPY, QQQ, DIA, IWM
options trading Mega Stocks options + stock trade signals
Forex Forex Signals major FX pairs signals