Greenback is poised for weekly drops after Fed disappoints bulls

Greenback is poised for weekly drops after Fed disappoints bulls

On Friday, the evergreen buck licked its wounds in Asia trade, wallowing at five-week minimums against a currency basket and staying on track for weekly losses after the Fed signaled fewer interest rate lifts than some market participants had expected.

In spite of the fact, on Wednesday, the major US bank delivered an interest rate lift as broadly anticipated, it didn’t alter its earlier forecast for a total of three rate lifts in 2017.

It disappointed greenback bulls who had hoped for hints of a probable fourth lift in 2017.

The dollar index, gauging the greenback against a basket of six crucial counterparts, slid 0.1% to 100.26, having tumbled to 100.21 overnight, its lowest outcome since February 9. For the week it lost 1%.

Against the Japanese yen, the greenback slid 0.1%, hitting 113.44, descending 1.2% for the week ahead of Monday’s Tokyo public holiday.

The Japanese yen gained notwithstanding steeply diverging monetary policy expectations.

usd

Similar

Popular

Asian shares tumble with Japan markets shut

On Monday, stocks in Asia declined with markets in Japan unavailable for a holiday and traders watching oilfield-related stocks after a bankruptcy filing by Singapore's Ezra Holdings…

Greenback surges as yields soar

On Friday, the evergreen buck added against the Japanese yen and euro, drifting away from recent minimums, though revenues were capped as traders focused on a showdown between Donald Trump and members of his own party as for a fresh healthcare bill…

Deposit with your local payment systems

Callback

A manager will call you shortly.

Change number

Your request is accepted.

A manager will call you shortly.

Internal error. Please try again later

Beginner Forex book

The most important things to start trading
Enter your e-mail, and we will send you a free Beginner Forex book

Thank you!

We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.

You are using an older version of your browser.

Update it to the latest version or try another one for a safer, more comfortable and productive trading experience.

Safari Chrome Firefox Opera