🧐 ProPicks AI October update is out now! See which stocks made the listPick Stocks with AI

Dollar little changed vs. rivals in quiet trade

Published 06/20/2014, 04:46 AM
Dollar holds steady vs. counterparts, Fed weighs
EUR/USD
-
GBP/USD
-
USD/JPY
-
USD/CHF
-
AUD/USD
-
USD/CAD
-
NZD/USD
-
DX
-

Investing.com - The dollar was little changed against the other major currencies in quiet trade on Friday, as demand for the greenback remained under pressure after the Federal Reserve said interest rates would remain low for some time.

The dollar was steady against the euro, with EUR/USD up 0.01% to 1.3609.

The dollar remained under pressure after the Fed gave no indication of when interest rates could start to rise at the conclusion of its two-day meeting on Wednesday. In addition, the Fed’s forecast of where interest rates might reach in the long term fell from 4% to 3.75%.

The central bank cut its bond purchases by $10 billion a month, to $35 billion, saying there was "sufficient underlying strength" in the U.S. economy to continue tapering.

The greenback shrugged off data on Thursday showing that U.S. jobless claims fell more than expected last week, as well as a separate report showing that manufacturing activity in the Philadelphia area expanded at the fastest rate in eight months in June.

In the euro zone, official data earlier showed that German producer price inflation fell 0.2% last month, compared to expectations for a 0.2% rise, after a 0.1% downtick in April.

The pound edged up against the dollar, to trade near five-year highs with GBP/USD slipping 0.10% to 1.7058.

Official data showed that U.K. public sector net borrowing rose to £11.48 billion in May, from a upwardly revised £9.00 billion the previous month. Analysts had expected public sector net borrowing to rise to £12.00 billion last month.

The dollar was little changed against the yen and the Swiss franc, with USD/JPY inching 0.04% higher to 101.99 and with USD/CHF easing up 0.03% to 0.8942.

The greenback was steady to higher against the Australian, New Zealand and Canadian dollars, with AUD/USD down 0.01% to 0.9397, NZD/USD slipping 0.13% to 0.8705 and USD/CAD adding 0.04% to 1.0823.

The US Dollar Index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.01% to 80.39, not far from lows of 80.24, the weakest level since May 27.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.