Dollar gains on FOMC minutes and optimism of US budget deal

October 10, 2013

Markets were upbeat on Thursday as investors were willing to take on more risk on expectations that the Washington lawmakers may reach a compromise deal to avoid a default by the US as the debt ceiling looms.

The FOMC minutes released last on Wednesday also boosted the dollar, as they showed policy makers see tapering by the end of this year.

The US dollar was back in demand, lifting the currency for a third day today, especially making gains against the yen, which weakened further.

Strong data from Japan also helped lift Japanese equity markets, and thus led to a fall in the yen. When Japanese sticks gain, the yen tends to fall. Investors were upbeat after Japanese data showed August core private sector machinery orders rose by more than expected. 

The safe haven yen fell against the US dollar, to 97.76 per dollar and weakened 0.2 percent to 131.96 per euro.

The greenback advanced 0.2 percent to $1.3497 per euro. The dollar also gained against the sterling.

The British pound will be in focus later today as the Bank of England's monetary policy announcement is due . Sterling traded at $1.5936 compared with $1.5953 late Wednesday.

The Aussie is weaker today after disappointing Australian jobs data. September employment was up 9,100 versus 15,000 expected. AUDUSD fell to $0.9388.

Publication source
FxNet information  FxNet reviews

October 21, 2016
EUR/USD remained unchanged after the ECB
The price maintained its bearish tone on Thursday. The EUR/USD pair stayed around its recent lows during the day. The euro slightly strengthened towards 1.1000 ahead of the US opening. The 50-EMA limited the euro recovery in the 1 hour chart...
October 21, 2016
Decisions on QE Postponed until December
Asian stock markets are narrowly mixed, with Japanese bourses managing marginal gains as the Yen falls against the Dollar. Stock futures in the U.S. are down...
October 21, 2016
EURUSD at $1.09, but declines could be limited
The ECB monetary policy meeting yesterday saw the euro give up its intraday gains to close on a bearish note. As Draghi signaled that the central bank would need time to assess the monetary policy situation...

XM Rating
OctaFX Rating
FxPro Rating
Orbex Rating
FBS Rating
Vantage FX Rating

Beeoptions Rating
Banc De Binary Rating
OptionFair Rating
Grand Option Rating
Empire Option Rating
Binary Brokerz Rating