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

Pre Market | Dow Jones | Gold | Newsletters | Learn


Forex Market Update: U.S. Dollar Trades Broadly Higher

Thursday, June 20, 2013 9:02 AM
The U.S. dollar rose sharply against all major traded currencies on Thursday after the Federal Reserve signaled that it might start tapering its bond purchase program by the year end as the U.S. economy shows signs of improvement. The Fed announced its policy-rate statement on Wednesday. The bank left the benchmark rate unchanged, which is at record low level; however, it said that the multi-billion dollar asset purchase program could be squeezed towards the end of this year. The bank said that the deceleration of  the economic stimulating measures will be carried in a phased manner, adding that the QE3 might be completely halted by the second half of the next year, should the macroeconomic environment continues to improve. The U.S. dollar Index, a gauge on U.S. unit’s performance against a basket of six major traded currencies, climbed 0.7% to 82.053, which is its 10 day high level. Meanwhile, analysts, according to Reuters said that the dollar gains could put an end to euro’s rally, probably pulling back the euro/dollar pair to 1.30 as the monetary union’s economy struggle to rebound, raising speculation over further cuts in interest rate. “Now it feels like the market wants to add to dollar longs ... The U.S. growth story is still the most convincing in G4 (the U.S. , euro zone, Japan and Britain),” said Valentin Marinov,  a currency strategist at Citi, according to Reuters. At last check, the euro fell 0.67% against the USD to trade at $1.3206 while the dollar gained 1.23% against the yen to trade at 97.64 yen.  
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

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...
Qualcomm faces China bribery allegations from U.S. regulatorQualcomm faces China bribery allegations from U.S. regulator
SAN FRANCISCO (Reuters) - Leading mobile chipmaker Qualcomm said on Wednesday it could face a civil action from U.S. authorities over alleged bribery of officials associated with state-owned compani...
Herbalife punished 600 distributors for medical claims: ABC NewsHerbalife punished 600 distributors for medical claims: ABC News
WASHINGTON (Reuters) - Herbalife, a weight loss and nutrition company being investigated for allegations of running a pyramid scheme, disciplined hundreds of distributors last year for making unsubsta...
Scottish independence to rebalance UK economy, benefit Northern England: SalmondScottish independence to rebalance UK economy, benefit Northern England: Salmond
CARLISLE (Reuters) - An independent Scotland would rebalance the UK`s economy and bring prosperity to northern England, Scottish leader Alex Salmond said on Wednesday in a bid to dispel concerns sou...
Buffett: No need for more BNSF rail car buys on Keystone delayBuffett: No need for more BNSF rail car buys on Keystone delay
NEW YORK (Reuters) - Warren Buffett, the chairman of Berkshire Hathaway <BRKa.N>, said on Wednesday the company`s BNSF railroad unit probably will not need to expand its rail car purchases as a ...

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.