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

IBM and the financial engineering economy: James SaftIBM and the financial engineering economy: James Saft
(Reuters) - IBM’s woes are interesting not simply because they tell us about the economy, but because they reveal broader truths about how, and for whom, companies are run. IBM kicked its 2015 ope...
China food scandal, tough U.S. competition pummel McDonald'sChina food scandal, tough U.S. competition pummel McDonald's
(Reuters) - McDonald`s Corp <MCD.N> reported a 30 percent fall in quarterly profit due to a food scandal in China and tough competition in the United States, and the world`s largest restaurant c...
McDonald's quarterly profit falls 30 percentMcDonald's quarterly profit falls 30 percent
(Reuters) - McDonald`s Corp <MCD.N> reported a 30 percent fall in quarterly profit, hurt by a food scandal in China and intense competition in the United States. The company`s net income fell ...
Apple seen riding higher on strong iPhone demand, iPad reboundApple seen riding higher on strong iPhone demand, iPad rebound
(Reuters) - Strong global demand for Apple Inc`s <AAPL.O> iPhone 6 will drive revenue growth through 2015, while updated models should help reverse three straight quarters of declining iPad sale...
Coca-Cola Co profit falls; company expands cost-cuttingCoca-Cola Co profit falls; company expands cost-cutting
(Reuters) - Coca-Cola Co <KO.N> said on Tuesday that its quarterly profit fell 14 percent as sales of carbonated beverage volumes in North America declined. The company, whose shares fell 4 ...

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.