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Dollar Declines on European Hope

Data Analysis 08:40:31AM Jun 07, 2012 Source:SMM

Jun. 6 -- The U.S. dollar fell against major currencies in late New York trading on Wednesday as the euro rebounded on European Central Bank(ECB)president's implication of further easing policy.

The ECB decided to keep the key interest rate unchanged at 1 percent, as expected. However, the central bank's president Mario Draghi hinted officials remained open to easing policy.

Meanwhile, European officials are considering a rescue program for Spain that would aid the country's banking sector but impose limited conditions on the government.

The euro rebounded against the dollar on Wednesday on positive news.

The dollar turned down on Wednesday as investors'expectations on the third round of quantitative easing policy rose. Dennis Lockhart, president of the Atlanta Federal Reserve Bank, said a move to extend the Federal Reserve's Operation Twist program remains an option on the table.

The dollar index lost 0.534 to 82.379 on Wednesday.

In late Wednesday trading, the dollar bought 79.17 Japanese yen, compared with 78.73 from late Tuesday. The euro rose to 1.2546 dollars from 1.2446.

The British pound also rose to 1.5474 dollars from 1.5369. The dollar fell from 0.9651 Swiss francs to 0.9571, and also fell to 1. 0287 Canadian dollars from 1.0384.

Key Words:  US dollar   major currencies   ECB 

Dollar Declines on European Hope

Data Analysis 08:40:31AM Jun 07, 2012 Source:SMM

Jun. 6 -- The U.S. dollar fell against major currencies in late New York trading on Wednesday as the euro rebounded on European Central Bank(ECB)president's implication of further easing policy.

The ECB decided to keep the key interest rate unchanged at 1 percent, as expected. However, the central bank's president Mario Draghi hinted officials remained open to easing policy.

Meanwhile, European officials are considering a rescue program for Spain that would aid the country's banking sector but impose limited conditions on the government.

The euro rebounded against the dollar on Wednesday on positive news.

The dollar turned down on Wednesday as investors'expectations on the third round of quantitative easing policy rose. Dennis Lockhart, president of the Atlanta Federal Reserve Bank, said a move to extend the Federal Reserve's Operation Twist program remains an option on the table.

The dollar index lost 0.534 to 82.379 on Wednesday.

In late Wednesday trading, the dollar bought 79.17 Japanese yen, compared with 78.73 from late Tuesday. The euro rose to 1.2546 dollars from 1.2446.

The British pound also rose to 1.5474 dollars from 1.5369. The dollar fell from 0.9651 Swiss francs to 0.9571, and also fell to 1. 0287 Canadian dollars from 1.0384.

Key Words:  US dollar   major currencies   ECB