Stock:
Symbol Lookup
Register | Login My Watchlist | My Account | Logout
History
to View Your Portfolio

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 2016 the year you get RICH!

Latest Headlines

China Lunar New Year holiday retail sales up 11.2 percent year-on-yearChina Lunar New Year holiday retail sales up 11.2 percent year-on-year
BEIJING (Reuters) - China`s retail sales grew 11.2 percent during the week-long Lunar New Year vacation compared with the same holiday period last year, Ministry of Commerce data showed on Saturday. ...
Market turmoil could hold back euro zone inflation - ECB's CoeureMarket turmoil could hold back euro zone inflation - ECB's Coeure
FRANKFURT (Reuters) - Europe`s financial market turmoil could delay a rise in inflation even further and banks will need to be fixed with forceful action over time, European Central Bank Executive Boa...
China central bank: speculators should not dominate sentimentChina central bank: speculators should not dominate sentiment
BEIJING (Reuters) - Speculators should not be allowed to dominate market sentiment regarding China`s foreign exchange reserves and it was quite normal for reserves to fall as well as rise, central ban...
Visa's investment in Square represents about 1 percent stakeVisa's investment in Square represents about 1 percent stake
SAN FRANCISCO (Reuters) - Visa Inc , the world`s largest credit and debit card company, said on Friday it currently has about a 1 percent stake in mobile payments company Square Inc based on a 2011 in...
Loeb says Third Point raised short bets to avoid lossesLoeb says Third Point raised short bets to avoid losses
BOSTON (Reuters) - Billionaire investor Daniel Loeb has told clients his firm has taken more defensive bets in the face of tumbling markets by dramatically increasing its short positions, which help...

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.

{localized={en_US=Terry}, preferredLocale={country=US, language=en}} {localized={en_US=Scott}, preferredLocale={country=US, language=en}}

Terry Scott
CEO of StockMarketWatch

View Profile


Learn the Stock Market

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

Be a Better
Trader, Today
arrow
PreMarket PRO Our New Streaming Realtime Pre-Market Product -- Click Here to Learn More