Dollar down ahead of Fed meeting - FX Trading

Sat 23 Sep 2017
FX Trading

Dollar down ahead of Fed meeting

Posted on 31 Jul at 9 AM Tags: Live Forex, Euro, Euro Zone, Dollar, Economy, Investors,

The dollar has dropped against the euro as investors and analysts expect the Federal Reserve to continue its loose monetary policy. Recently the greenback rallied because Fed chairman Ben Bernanke suggested that quantitative easing could be reined in on the back of positive growth in the US economy.

However, second quarter gross domestic product figures are expected to be softer than first quarter data. If this proves to be the case then the US central bank is likely to keep interest rates down. This will make the greenback less attractive to investors.

The euro has pushed up 0.2 per cent to hit $1.3289, the highest it has been in nearly six weeks. Indication that confidence is growing in the eurozone also helped to give the single currency a boost.

However, any gains that have been made could turn out to be short lived if the European Central Bank says it intends to follow the US and keep a loose monetary policy for the time being. The Bank of England is also due to discuss policy, and is likely to do the same.

The dollar has remained flat against most other major currencies. The US currency is static at 97.98 yen. Jobs data to be released at the end of the week could give the greenback a boost, but most analysts believe this will be short-lived.


The live forex rates on 31/07/2013 were as follows: EUR GBP = 0.8757, USD GBP = 0.6587, AUD GBP = 0.5885, NZD GBP = 0.5229, CHF GBP = 0.711, INR GBP = 0.0108, CAD GBP = 0.6402, GBP EUR = 1.142, USD EUR = 0.7523, AUD EUR = 0.6721, NZD EUR = 0.5972, CHF EUR = 0.8119, INR EUR = 0.0124, CAD EUR = 0.7311, GBP USD = 1.5181, EUR USD = 1.3293, AUD USD = 0.8934, NZD USD = 0.7939, CHF USD = 1.0793, INR USD = 0.0165, CAD USD = 0.9718, GBP AUD = 1.6992, EUR AUD = 1.4879, USD AUD = 1.1193, NZD AUD = 0.8886, CHF AUD = 1.2081, INR AUD = 0.0184, CAD AUD = 1.0878, GBP NZD = 1.9123, EUR NZD = 1.6745, USD NZD = 1.2597, AUD NZD = 1.1254, CHF NZD = 1.3596, INR NZD = 0.0207, CAD NZD = 1.2242, GBP CHF = 1.4065, EUR CHF = 1.2316, USD CHF = 0.9265, AUD CHF = 0.8277, NZD CHF = 0.7355, INR CHF = 0.0152, CAD CHF = 0.9004, GBP INR = 92.2527, EUR INR = 80.7817, USD INR = 60.7685, AUD INR = 54.2918, NZD INR = 48.2418, CHF INR = 65.5903, CAD INR = 59.0568, GBP CAD = 1.5621, EUR CAD = 1.3679, USD CAD = 1.029, AUD CAD = 0.9193, NZD CAD = 0.8169, CHF CAD = 1.1106, INR CAD = 0.0169, . See today's forex Rates
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