Weekly summary - Dollar retreats despite fears from job market
Posted 11-07-2009 at 05:00 AM by Yohay
The dollar finishes the week lower against most currencies this week. The fear that ruled last week wasn’t fueled by the terrible American job market, and the blurry rate decision by the Fed. The horizon isn’t clear with this jobless recovery. Here’s an overview of this week in forex trading.
The US Dollar Index retreated this week from 76.21 to 75.74, similar to the close about two weeks ago, before last week’s big comeback. It’s hard to say that last week’s surge was a short episode, or that this week’s stall was only temporary.
The rate decision by the Federal Reserve was expected: no change of wording – almost copy pasted from the previous FOMC Statement. In my post about 4 scenarios for the Fed decision, I gave this option the highest probability, but I hoped for something more interesting.
Some currencies did better than others this week:
Read the rest of the forex overview.
The US Dollar Index retreated this week from 76.21 to 75.74, similar to the close about two weeks ago, before last week’s big comeback. It’s hard to say that last week’s surge was a short episode, or that this week’s stall was only temporary.
The rate decision by the Federal Reserve was expected: no change of wording – almost copy pasted from the previous FOMC Statement. In my post about 4 scenarios for the Fed decision, I gave this option the highest probability, but I hoped for something more interesting.
Some currencies did better than others this week:
Read the rest of the forex overview.
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