Market News

In Asian trading today, the common currency Euro continued its slide versus the U.S. Dollar on resurfacing investor worries about the Eurozone’s debt problems, giving investors a reason for profit taking.

Continuing worries about the Eurozone’s peripheral debt has kept the common currency under pressure in Asian trading today.

In early London trading, the U.S. Dollar rose against the common currency Euro, benefiting from investors unwinding their short dollar positions as worries over Eurozone debt resurfaces and strong U.S. payrolls data in the U.S. ease some lingering worries.

The U.S. Dollar held near newly established lows in Asian trading today, with the U.S. Dollar Index setting an 11-month low at 75.89 .DXY.

Following the Federal Reserve’s announcement yesterday confirming the speculation that additional quantitative easing measures would be forthcoming, the U.S. Dollar slipped broadly.

The USD maintained its level on Wednesday as the Fed looked ready to add more monetary easing to spur a flagging recovery, a move analysts predict would weigh on U.S. yields and ultimately put more pressure on the American currency.

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The U.S. Dollar remains broadly defensive ahead of today’s expected quantitative easing announcement by the Federal Reserve’s FOMC, and until that decision is announced at 6:15 p.m. (GMT), market players remain cautious.

A surprise rate hike by the Australian central Bank helped push the Aussie higher against the greenback in Asian trading today.

In New Zealand, the Kiwi Dollar traded higher versus the U.S. Dollar, striking a 27-month peak as investors move to position themselves in advance of this week’s Federal Open Market Committee meeting which concludes on Wednesday.

The USD declined towards a 15-year low as the Japanese currency rose broadly

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The U.S. Dollar slipped against the Japanese Yen, approaching a 1995 historic low in choppy trading in Asia today.

A short term comeback in the dollar stopped on Thursday but traders said an increase in U.S. Treasury yields could cause more buybacks in the greenback before the Fed’s policy meeting next week.

Speculation exists that a possible rise in the yield of U.S. Treasury instruments may encourage more buybacks of the U.S. Dollar.