Dollar Mixed as Stimulus Hopes Fade -Shanghai Metals Market

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Dollar Mixed as Stimulus Hopes Fade

Industry News 09:44:36AM Jul 13, 2012 Source:SMM

NEW YORK, July 12 (Xinhua) -- The U.S. dollar traded mixed against major currencies in late New York trading on Thursday as the Federal Reserve's minutes of latest monetary policy meeting dampened investors' hopes for further monetary easing policy.

The greenback continued its gains against the euro and the British pound on Thursday, after the Fed disappointed investors on Wednesday by implying no further quantitative easing policy in the near future. The dollar index gained 0.081 to 83.809.

Meanwhile, the surging yields of Spain and Italy's government bonds added investors' concerns about the European debt crisis and weighed on the euro.

The Bank of Japan on Thursday kept its key interest rate unchanged at the current range of 0 to 0.1 percent by a unanimous vote. The Japanese yen got a lift from the result.

On the economic front, the U.S. Labor Department said initial jobless claims dropped 26,000 to 350,000 last week, the lowest level in four years, which suggested that the recovery of job market showed strength.

In late Thursday trading, the dollar bought 79.31 Japanese yen, compared with 79.65 from late Wednesday. The euro fell to 1.2195 dollars from 1.2226.

The British pound also fell to 1.5428 dollars from 1.5494. The dollar rose from 0.9822 Swiss francs to 0.9846, but fell to 1.0186 Canadian dollars from 1.0213.

 

Key Words:  The U.S. dollar 

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Dollar Mixed as Stimulus Hopes Fade

Industry News 09:44:36AM Jul 13, 2012 Source:SMM

NEW YORK, July 12 (Xinhua) -- The U.S. dollar traded mixed against major currencies in late New York trading on Thursday as the Federal Reserve's minutes of latest monetary policy meeting dampened investors' hopes for further monetary easing policy.

The greenback continued its gains against the euro and the British pound on Thursday, after the Fed disappointed investors on Wednesday by implying no further quantitative easing policy in the near future. The dollar index gained 0.081 to 83.809.

Meanwhile, the surging yields of Spain and Italy's government bonds added investors' concerns about the European debt crisis and weighed on the euro.

The Bank of Japan on Thursday kept its key interest rate unchanged at the current range of 0 to 0.1 percent by a unanimous vote. The Japanese yen got a lift from the result.

On the economic front, the U.S. Labor Department said initial jobless claims dropped 26,000 to 350,000 last week, the lowest level in four years, which suggested that the recovery of job market showed strength.

In late Thursday trading, the dollar bought 79.31 Japanese yen, compared with 79.65 from late Wednesday. The euro fell to 1.2195 dollars from 1.2226.

The British pound also fell to 1.5428 dollars from 1.5494. The dollar rose from 0.9822 Swiss francs to 0.9846, but fell to 1.0186 Canadian dollars from 1.0213.

 

Key Words:  The U.S. dollar