| Forex News Center | | | USD News Archive |
USD Daily News
US Dollar Dropping Fast as Sell-Off Gains Momentum
The US dollar has continued to plummet since yesterday after statements from the Federal Open Market Committee (FOMC) removed all doubt about US monetary policies remaining unchanged. The record low interest rates will persist for the foreseeable future, according to the FOMC report and subsequent statement. What market participants are witnessing now is the aftermath.
Forex traders, who had been hesitant to short the greenback due to a variety of reasons, found many justifications to push heavily against the greenback; especially since little resistance should be seen in the days ahead. The EUR/USD has now risen to a three-year high, reaching towards 1.4900 in yesterday's session. The AUD/USD witnessed a similar bull run, climbing to a 29-year high of 1.0920. The USD/JPY joined the chorus, despite weak fundamentals in Japan, and fell to 81.52 from 82.17 yesterday.
Yesterday's Advance GDP report gave dollar bears yet another reason to dump on the greenback as it fell just shy of its expected 1.9%, coming in at 1.8%; well below last quarter's adjusted 3.1%. There does not appear to be any reason to resist the bear session on the USD for the remainder of the week. Dollar traders should look to short the greenback against all of its currency rivals until this bear session loses a bit of its current momentum.
News Archives
| 28.04.2011 | US Dollar Dropping Sharply after FOMC Statement |
| 27.04.2011 | View of the Fed Maintaining its Lagging Monetary Policy Weighs on USD |
| 26.04.2011 | USD Hesitant Prior to Week's Fed Meeting |
Add events to google calendar
Mark all
Unmark all
Print| # | Time | $€£¥ | Event | Per. | Prev. | Fore. | Act. | Imp. |
|---|---|---|---|---|---|---|---|---|
| 05/02 | ||||||||
| 15:00 | USD |  ISM Manufacturing PMI | 61.2 | 59.9 | - |  | ||
| 15:00 | USD | Construction Spending | m/m | -1.4% | 0.4% | - |  | |
| 15:00 | USD | ISM Manufacturing Prices | 85.0 | 83.2 | - |  | ||
