DOLLAR TRADES NEAR 3-WEEK LOW VERSUS EURO AS FED BEGINS MEETING The dollar traded 0.4 percent from its lowest level in almost three weeks against the euro as investors await a decision on U.S. monetary policy from Federal Reserve officials beginning a two-day meeting today. The Bloomberg U.S. Dollar Index was near a five-week low after the exit of Lawrence Summers from consideration to be the next Fed chairman fueled speculation the central bank will take a more gradual approach to scaling back bond purchases that tend to debase the currency. The euro remained stronger against the pound before a report that may show investor confidence in Germany climbed to a half-year high. “We expect the Fed to reduce asset purchases by about $10 billion and forward guidance to be strengthened,” said Yujiro Goto, a senior currency strategist at Nomura International Plc in London. “The dollar might rise in a knee-jerk reaction should the Fed reduce by $15 billion, but forward guidance will be the key driver for its medium- to long-term trend.” The dollar fetched $1.3333 per euro as of 11:22 a.m. in Tokyo, little changed from yesterday, when it touched $1.3386, the weakest since Aug. 28. The greenback added 0.1 percent to 99.20 yen. #BinaryOptions #OpzioniBinarie #MakeMOneyOnline #GuadagnareOnline
Posted on: Tue, 17 Sep 2013 08:22:07 +0000
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