Quiet Asian session while dollar remains weak

October 18, 2013

The US dollar weakness remained during a quiet Asian session on Friday, mainly due to less expectation about Fed tapering.

The impasse in Washington DC in the past two weeks is bound to have a negative impact on the US economy, and the Fed will be less willing to remove stimulus before early 2014. Janet Yellen, the new Fed Chair in January, is a known dove and will not taper soon.

Risk currencies held onto gains made after a strong rally yesterday on the back of the weaker dollar. The euro has benefitted at the expense of the USD, climbing to a 10-month high yesterday to $1.3682 and is set to continue higher today.

Sterling consolidated near yesterday’s highs of $1.6172, being supported by strong UK retail sales.

Yen held gains versus the dollar but fell against the broadly stronger euro. USDJPY attempted to bounce in Asia today but only made it to 98.15 from yesterday’s low of 97.72 and soon fell again.

Publication source
FxNet information  FxNet reviews

December 5, 2016
Gold prices struggled for a direction
MACD was in the negative territory. If MACD remains in the negative territory, sellers’ positions will strengthen. RSI was in a neutral area...
December 5, 2016
Mixed Jobs Report Keeps High Fed Expectations Intact
As we noted the day before Friday’s US jobs report, only a significantly worse-than-expected reading for November would have likely made the Federal Reserve’s next interest rate decision more difficult...
December 5, 2016
Euro down but not out as Italy votes no!
Politics are setting the tone for Monday trading with all eyes on Europe. While Austria presidential polls delivered a defeat to the far-right candidate Norbert Hofer...

FIBO Group Rating
Tickmill Rating
FxPro Rating
Grand Capital Rating
FBS Rating
Trade360 Rating

OptionFair Rating
Grand Option Rating
Binary Brokerz Rating
TropicalTrade Rating
OptionBit Rating
Anyoption Rating