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The central bank day is concluding with European currencies and Canadian dollar pretty much where they started the week. Yen, Australian dollar and New Zealand dollar are the gainers. Next week should be a lively one, before likely some holiday hibernation.
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Yen the most wanted currency this week
U.S. dollar ended the week lower against European currencies and yen, and higher against the commodity bloc. If we look at these currencies from the yield perspective, it was actually a typical risk-off week, albeit with reduced volatility.
Fed holds rates
At its two day meeting that concluded yesterday, FOMC decided to leave Federal Funds Rate in 0.0% - 0.25% range. Disinflationary implications of slowing global growth, oil weakness and US dollar strength are the main reasons why the committee stood pat.
The dollar was sold across the board but it retraced most of its losses against the commodity currencies. Euro was the winner of the day as it rose nearly a cent and a half. Swissie and Cable both moved close to 100 pips on the day and Yen about …
The dollar was sold across the board but it retraced most of its losses against the commodity currencies. Euro was the winner of the day as it rose nearly a cent and a half. Swissie and Cable both moved close to 100 pips on the day and Yen about …