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: Marubeni says Chinese authorities detain three staff at grain unitExclusive: Marubeni says Chinese authorities detain three staff at grain unit
TOKYO/BEIJING (Reuters) - Three employees at one of Marubeni Corp`s <8002.T> grain trading units in China have been detained by authorities, the Japanese trading house said on Thursday, a move...
U.S. judge denies Apple's move to hold off e-book antitrust trialU.S. judge denies Apple's move to hold off e-book antitrust trial
NEW YORK (Reuters) - A U.S. federal judge denied a bid by Apple Inc on Wednesday to hold off a trial in a case brought by state attorneys general accusing the company of conspiring with five major pub...
Japan's Mitsui O.S.K. ship ready to leave Chinese portJapan's Mitsui O.S.K. ship ready to leave Chinese port
TOKYO (Reuters) - Japanese shipping firm Mitsui O.S.K. Lines Ltd said on Thursday that its ship, the "Baosteel Emotion" 226,434 deadweight-ton ore carrier, is ready to leave a Chinese port soon after ...
Wal-Mart says former CEO Scott to retire from boardWal-Mart says former CEO Scott to retire from board
(Reuters) - Wal-Mart Stores Inc <WMT.N> said former Chief Executive Officer Lee Scott and board member Chris Williams will not stand for re-election to the retailer`s board. Scott will complet...
Apple resets the clock as investors await next big thingApple resets the clock as investors await next big thing
SAN FRANCISCO (Reuters) - Apple Inc just bought itself some much-needed time. On Wednesday, the company surprised Wall Street with news that it sold more iPhones in the March quarter than even the...

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.