Now that the Group of 20 has concluded its 3-day meeting in South Korea, investors turn their focus towards Washington, DC where they await the Fed decision on quantitative easing.
The U.S. Dollar held stead in Asian trading today, even as the meeting of the Group of 20 finance ministers sits for their first policy session in South Korea.
Ahead of this weekends’ Group of 20 meeting in South Korea, the U.S. Secretary of the Treasury, Timothy Geithner, commented that he plans to use the meeting as a forum to focus attention on the need to rebalance global economies, and move closer to a coordinated exchange rate policy.
The U.S. Dollar Index slipped in Asian trading today, falling after yesterday’s surprise rate hike by the People’s Bank of China.
At 3:11 p.m. (JST) in Tokyo, the Euro traded at $1.3900, a decline of .2% and well off last Friday’s 8-month peak
The U.S. Dollar continues to extend last Friday’s late rebound in Asian trading today, with the Dollar Index rising and pulling farther from the 10-month trough struck last week. As reported at 12:40 p.m. (JST) in Tokyo, the Dollar Index traded at 77.402 .DXY, a gain of .5%.
Investors cutting their short U.S. Dollar positions helped to give the greenback some respite from the weeks’ lows.
The U.S. Dollar Index struck a new 10-month low in Tokyo trading, continuing to be put under selling pressure, this time pushed lower by the policy tightening actions of the Monetary Authority of Singapore.
Yesterday’s release of the minutes from last month’s Federal Open Market Committee policy meeting spurred on investor speculation that the Fed will soon increase their QE measures.
In Asian trading today, the U.S. Dollar Index held steady, and may be an indication that market players are factoring in the possibility of the Fed’s putting QE measures into play soon.
In spite of speculation that the Federal Reserve will implement more quantitative easing policies in an effort to spur the sluggish American economy, the U.S. Dollar steadied in Asian trading.
If you have been following the latest trends on the Web, you are surely aware of the social media wave taking over the internet community. The first Forex entity to jump on this wave was of course Currensee.
Ahead of the Labor Department’s release of weekly employment data, the U.S. Dollar steadied in Asian trading, recovering slightly from the sell-off that occurred earlier in the week. The markets are also keenly awaiting news out of the IMF and the G7 meetings later today.
The U.S. Dollar held fast to multi-year lows against the Japanese Yen in Asian trading today.
In Asian trading today, the U.S. Dollar held steady versus the Japanese Yen, but the market is merely waiting for the greenback to further soften once the Federal Reserve Bank takes additional quantitative easing measures, as most investors anticipate they will.