Investing.com - The dollar extended Tuesday's losses into Wednesday as uncertainty continued to build over when the Federal Reserve will begin tapering the pace of its USD85 billion in monthly asset purchases.
In U.S. trading on Wednesday, EUR/USD was up 0.21% at 1.3789.
A surprisingly strong November jobs report bolstered the dollar in recent sessions by fanning talk the Fed may announce plans to taper the pace of its USD85 billion in monthly bond purchases at its Dec. 17-18 monetary policy meeting.
Elsewhere, lawmakers agreed on a way out of a budget impasse that could clear up U.S. fiscal uncertainties and convince the Fed it no longer needs to support the economy with monetary tools.
Senate Democrats and Republicans agreed on a deal setting a 2014 budget at USD1.012 trillion, and a 2015 budget at USD1.014 trillion in a fiscal plan that would reduce automatic spending cuts and deficit levels by USD23 billion over two years.
Still, a general murkiness as to whether or not the U.S. central bank will wait until early 2014 after reviewing more economic indicators before deciding on tapering softened the greenback on Wednesday.
The greenback was up against the pound, with GBP/USD down 0.36% at 1.6386.
The dollar was down against the yen, with USD/JPY down 0.28% at 102.57, and down against the Swiss franc, with USD/CHF down 0.12% at 0.8864.
The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0.10% at 1.0591, AUD/USD down 0.85% at 0.9072 and NZD/USD trading down 0.34% at 0.8282.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.11% at 79.88.
On Thursday, the U.S. is to produce data on retail sales as well as the weekly report on initial jobless claims.
In U.S. trading on Wednesday, EUR/USD was up 0.21% at 1.3789.
A surprisingly strong November jobs report bolstered the dollar in recent sessions by fanning talk the Fed may announce plans to taper the pace of its USD85 billion in monthly bond purchases at its Dec. 17-18 monetary policy meeting.
Elsewhere, lawmakers agreed on a way out of a budget impasse that could clear up U.S. fiscal uncertainties and convince the Fed it no longer needs to support the economy with monetary tools.
Senate Democrats and Republicans agreed on a deal setting a 2014 budget at USD1.012 trillion, and a 2015 budget at USD1.014 trillion in a fiscal plan that would reduce automatic spending cuts and deficit levels by USD23 billion over two years.
Still, a general murkiness as to whether or not the U.S. central bank will wait until early 2014 after reviewing more economic indicators before deciding on tapering softened the greenback on Wednesday.
The greenback was up against the pound, with GBP/USD down 0.36% at 1.6386.
The dollar was down against the yen, with USD/JPY down 0.28% at 102.57, and down against the Swiss franc, with USD/CHF down 0.12% at 0.8864.
The dollar was mixed against its cousins in Canada, Australia and New Zealand, with USD/CAD down 0.10% at 1.0591, AUD/USD down 0.85% at 0.9072 and NZD/USD trading down 0.34% at 0.8282.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.11% at 79.88.
On Thursday, the U.S. is to produce data on retail sales as well as the weekly report on initial jobless claims.