By: Barbara Zigah
As reported at 9:25 a.m. (BST) in London, the U.S. Dollar remained relatively flat in currency trading following yesterday’s intimation by the Federal Reserve Bank that the current program of quantitative easing would not be changed in the near term. According to one currency strategist in London, that is a mildly positive sign for the U.S. Dollar. The U.S. Dollar Index rose .1% to trade at 80.610 .DXY, recovering from a 2-week low touched on briefly in yesterday’s trading. Versus the Euro, the U.S. Dollar traded at $1.3940 slightly off of $1.4139, a 2-week high hit yesterday before the Federal Reserve meeting. Against the Swiss Franc, the U.S. Dollar lost .2% to trade at 1.0955 Francs, hovering close to 1.0629 Francs, a 3-week low hit yesterday. The Swiss Franc also moved up against the Euro, reversing some of yesterday’s losses, to trade at 1.5278 Francs. Some analysts speculate that the Euro is under pressure because the European Central Bank is playing late catch-up versus other central banks with measures aimed at quantitative easing. A reading of the Euro Zone industrial order to be announced this morning is expected to be unchanged from last month and on track to show a 32.3% loss on the year.
U.S. Dollar holds steady following FOMC meeting
Barbara Zigah
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About Barbara Zigah
After working on Wall Street, Barb began her second career as a freelance writer at Daily Forex, where the CEO recognized fresh, untapped potential and was willing to give her a try. She’s never looked back. Since then, she’s worked steadily as a freelance writer and editor in the financial services and Forex-related industry.