SYDNEY, July 30 — The dollar languished near a one-month low on Friday and was poised for its worst weekly performance since May as dovish remarks by the US Federal Reserve together with underwhelming economic data took the steam out of a month-long rally.
For the week, the index is off 1 per cent, its worst weekly showing since early May. For the month, the index is down 0.5 per cent so far following a 2.8 per cent rally in June. “While the Fed continued to say it was moving towards winding back its money printing program, the Fed’s move towards this shift looks likely to be slower than previously anticipated,” said Steven Dooley, currency strategist at Western Union Business Solutions.
Both the Australian and New Zealand dollars, reliant on world and Chinese economic growth, hovered near two-week highs.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Dollar stands firm as investors eye Fed decision | Malay MailLONDON, July 28 — The dollar made marginal gains today after being pinned down earlier, with investors holding off on placing major bets ahead of the outcome of a US Federal Reserve meeting. The US dollar index moved into positive territory after trading lower in Asian hours. The greenback was...
Source: malaymail - 🏆 1. / 86 Read more »
US dollar, stocks dip as Fed keeps taper timing close to chest | Malay MailNEW YORK, July 29 ― US stocks and the dollar slipped yesterday in listless trade after the Federal Reserve gave no clue about when it might start reducing its purchases of government bonds, even as it said the economic recovery is on track. The Fed said after its latest policy meeting ended...
Source: malaymail - 🏆 1. / 86 Read more »
Ringgit opens higher against US dollar | Malay MailKUALA LUMPUR, July 29 ― The ringgit opened higher against the US dollar today as the greenback continued to move sideways against the local note after no changes were made to the US monetary policy, a dealer said. At 9.03am, the ringgit rose to 4.2260/2270 versus the greenback from yesterday's...
Source: malaymail - 🏆 1. / 86 Read more »
European shares lower on China falls, Reckitt marks worst day in 18 years | Malay MailFRANKFURT, July 28 ― European stocks lost ground yesterday after falls in Chinese shares and Reckitt Benckiser's warning on margins ahead of earnings updates from big fashion retailers later in the day. The pan-European STOXX index fell 0.5 per cent in its second straight session of losses....
Source: malaymail - 🏆 1. / 86 Read more »
Dollar stands firm as investors eye Fed decision | Malay MailLONDON, July 28 — The dollar made marginal gains today after being pinned down earlier, with investors holding off on placing major bets ahead of the outcome of a US Federal Reserve meeting. The US dollar index moved into positive territory after trading lower in Asian hours. The greenback was...
Source: malaymail - 🏆 1. / 86 Read more »
US dollar, stocks dip as Fed keeps taper timing close to chest | Malay MailNEW YORK, July 29 ― US stocks and the dollar slipped yesterday in listless trade after the Federal Reserve gave no clue about when it might start reducing its purchases of government bonds, even as it said the economic recovery is on track. The Fed said after its latest policy meeting ended...
Source: malaymail - 🏆 1. / 86 Read more »