US dollar down - FX Trading

Sat 23 Sep 2017
FX Trading

US dollar down

Posted on 17 Jul at 9 AM Tags: Euro, Forex Trading, Dollar, Investors,

The dollar has weakened as Ben Bernanke, head of the US Federal Reserve, is expected to avoid being too hawkish in front of Congress. Investors are watching closely to see how a tapering back of quantitative easing will eventually impact the markets.

The dollar index, a measure of the greenback against a number of other leading currencies, was close to its lowest level in three weeks at 82.639, a drop of 0.6 per cent.

However, the dollar managed to recover 0.3 per cent against the yen to hit 99.35. This is still lower than the 101.53 high hit earlier in July. The Fed chairman is expected to confirm that interest rates will stay close to zero for the time being even though asset purchases could be reined in.

Sterling is trading near a four-month low against the euro ahead of the minutes from a Bank of England policy meeting. The euro, which on Tuesday was trading at a high of 87.075 pence has softened slightly to 86.935 pence.

The Australian dollar, which hit a three-year low on Friday of $0.8998, has managed to clamber back up to $0.9223 as the Reserve Bank of Australia is expected to announce a cut in rates as early as next month.


The live forex rates on 17/07/2013 were as follows: EUR GBP = 0.8624, USD GBP = 0.6575, AUD GBP = 0.6067, NZD GBP = 0.5196, CHF GBP = 0.6981, INR GBP = 0.0111, CAD GBP = 0.6316, GBP EUR = 1.1596, USD EUR = 0.7625, AUD EUR = 0.7036, NZD EUR = 0.6025, CHF EUR = 0.8096, INR EUR = 0.0129, CAD EUR = 0.7324, GBP USD = 1.5208, EUR USD = 1.3115, AUD USD = 0.9227, NZD USD = 0.7902, CHF USD = 1.0617, INR USD = 0.0169, CAD USD = 0.9606, GBP AUD = 1.6482, EUR AUD = 1.4214, USD AUD = 1.0838, NZD AUD = 0.8564, CHF AUD = 1.1507, INR AUD = 0.0183, CAD AUD = 1.0411, GBP NZD = 1.9246, EUR NZD = 1.6597, USD NZD = 1.2655, AUD NZD = 1.1677, CHF NZD = 1.3436, INR NZD = 0.0214, CAD NZD = 1.2156, GBP CHF = 1.4324, EUR CHF = 1.2353, USD CHF = 0.9419, AUD CHF = 0.8691, NZD CHF = 0.7443, INR CHF = 0.0159, CAD CHF = 0.9047, GBP INR = 89.9796, EUR INR = 77.5954, USD INR = 59.166, AUD INR = 54.5926, NZD INR = 46.7524, CHF INR = 62.8174, CAD INR = 56.834, GBP CAD = 1.5832, EUR CAD = 1.3653, USD CAD = 1.041, AUD CAD = 0.9606, NZD CAD = 0.8226, CHF CAD = 1.1053, INR CAD = 0.0176, . See today's forex Rates
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