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 2015 the year you get RICH!

Latest Headlines

Germany, ECB play hard ball with GreeceGermany, ECB play hard ball with Greece
BERLIN/HELSINKI (Reuters) - German Chancellor Angela Merkel ruled out a debt writedown for Greece on Saturday, and a European Central Bank policymaker threatened to cut off funding to Greek banks if...
Lavish freebies from Saudi king to buoy economy, marketsLavish freebies from Saudi king to buoy economy, markets
DUBAI (Reuters) - A lavish payout to public employees ordered by Saudi Arabia`s new King Salman will help to sustain the kingdom`s consumer boom and reassure financial markets that the government is...
Greek emergency funding would be a decision for ECB council: ConstancioGreek emergency funding would be a decision for ECB council: Constancio
CAMBRIDGE, England (Reuters) - ECB Vice-President Vitor Constancio said on Saturday that a decision on whether to give Greece emergency funding would be up to the central bank`s Governing Council. ...
Russian economy ministry sees 2015 GDP contracting 3 percent: Interfax Russian economy ministry sees 2015 GDP contracting 3 percent: Interfax
MOSCOW (Reuters) - Russian Economy Minister Alexei Ulyukayev said the ministry sees the country`s economy shrinking 3 percent in 2015 and inflation of 12 percent by the end of the year, the Interfax n...
Austrians rue starting fashion for Swiss franc mortgagesAustrians rue starting fashion for Swiss franc mortgages
VIENNA (Reuters) - The surging Swiss franc has dealt a double blow to homeowners in Austria, home of the trend for borrowing in the Swiss currency that has devastated mortgage holders across eastern...

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
AppleStock FREE AAPL Signals realtime daytrade signals