The dollar fell for a second day versus the yen on speculation Federal Reserve speakers including Chairman Ben S. Bernanke will reiterate economic growth isn’t yet sufficient to trim stimulus.
The Bloomberg U.S. Dollar Index approached its lowest in more than a week after New York Fed President William C. Dudley said yesterday he’s more hopeful about the economy while indicating no change in bond buying. Australia’s currency held a two-day gain as minutes of its central bank’s meeting showed policy makers saw “mounting evidence” interest-rate cuts were working. The euro was near a two-week high before a report forecast to show German investor confidence increased.
“The U.S. dollar has been under pressure right across the board,” said Emma Lawson, the Sydney-based senior currency strategist at National Australia Bank Ltd. “Certainly, the doves are taking the fore at the moment. Most investors have moved away from any expectation of tapering in December” of bond buying from the Fed.
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015