The Fed due to reveal the outcome of the FOMC meeting The greenback declined against most of its major counterparts yesterday.  The dollar dropped almost 10% against the euro even since Aug. 27 when Fed Chairman Ben Bernanke said the central bank “will do all that it can” to sustain economic growth.  The focus now [...]

The market is turning cautious ahead of the Fed’s meeting The Fed will begin the 2-day FOMC meeting today.  The Fed is widely expected to announce a second round of monetary easing on Wednesday, with markets generally priced for the central bank to commit to buying at least $500 billion in Treasury debt over the [...]

The USD weakens across the board The U.S. dollar fell against the major currencies with the exception of the Japanese yen, as investors await the FOMC’s policy decision due on Nov. 3.  In anticipation of a new round of Fed purchases, the USDJPY posted a new 15-year low of 80.25.  Economic Minister Kaieda said that [...]

Market awaiting U.S. GDP for clues on recovery The U.S. dollar found some support against major currencies in the Asian session, a day after posting its biggest fall in over a week.  Today’s advance GDP data from the States is expected to show a slight pickup in growth.  The closely watched report is expected to [...]

G-20 Agrees to Refrain from Competitive Currency Devaluations – USD resumes decline The US dollar collapses broadly today as market participants interpreted a Group of 20 agreement to steer clear of competitive currency devaluations as a green light to resume dollar selling.  According to analysts, this should keep the USD under pressure as the focus [...]