Investing.com – The U.S. dollar was down against most of the other major currencies on Tuesday, amid ongoing concerns that the Federal Reserve may implement further quantitative easing in the coming months.
During European morning trade, the greenback was down against the euro, with EUR/USD gaining 0.68% to hit 1.3778.
The greenback was also down against the pound, with GBP/USD advancing 0.40% to hit 1.5895.
Earlier in the day, industry data showed that the U.K.’s services PMI rose unexpectedly in September.
Elsewhere, the dollar was down against the Swiss franc and the yen, with USD/CHF falling 0.44% to hit 0.9673 and USD/JPY shedding 0.01% to hit 83.35.
Earlier Tuesday, the Bank of Japan announced that it had lowered its benchmark interest rate to a range between 0.0% to 0.1%, its lowest level since 2006.
Meanwhile, the greenback was down against its Canadian and New Zealand counterparts, but up against the Australian dollar, with USD/CAD declining 0.26% to hit 1.0209, NZD/USD gaining 0.03% to hit 0.7423, while AUD/USD tumbled 0.81% to hit 0.9605.
Earlier in the day, the Reserve Bank of Australia left its benchmark interest rate unchanged for the fifth consecutive month in October, surprising markets.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.53%.
Late Monday, while addressing a forum in Rhode Island, Federal Reserve Chairman Ben Bernanke said that that the central bank’s first round of large-scale asset purchases improved the economy and that further buying will probably help more.
During European morning trade, the greenback was down against the euro, with EUR/USD gaining 0.68% to hit 1.3778.
The greenback was also down against the pound, with GBP/USD advancing 0.40% to hit 1.5895.
Earlier in the day, industry data showed that the U.K.’s services PMI rose unexpectedly in September.
Elsewhere, the dollar was down against the Swiss franc and the yen, with USD/CHF falling 0.44% to hit 0.9673 and USD/JPY shedding 0.01% to hit 83.35.
Earlier Tuesday, the Bank of Japan announced that it had lowered its benchmark interest rate to a range between 0.0% to 0.1%, its lowest level since 2006.
Meanwhile, the greenback was down against its Canadian and New Zealand counterparts, but up against the Australian dollar, with USD/CAD declining 0.26% to hit 1.0209, NZD/USD gaining 0.03% to hit 0.7423, while AUD/USD tumbled 0.81% to hit 0.9605.
Earlier in the day, the Reserve Bank of Australia left its benchmark interest rate unchanged for the fifth consecutive month in October, surprising markets.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.53%.
Late Monday, while addressing a forum in Rhode Island, Federal Reserve Chairman Ben Bernanke said that that the central bank’s first round of large-scale asset purchases improved the economy and that further buying will probably help more.