6 november 2013 #Finance Dollar At Almost 7-Week High As Service Industries Top Forecasts. The dollar advance to an almost seven-week high after a gauge of service industries jumped more than estimated in October, adding to the case for the Federal Reserve to taper monthly bond purchases. The euro pulled back versus the yen after European Central Bank Executive Board member Joerg Asmussen announced that the economic recovery is “still very green” before the bank’s policy meeting this week. Japan`s currency appreciated against most of its 16 most exchanged counterparts as the Bank of Japan’s governor said efforts to dispel the country’s deflation are succeeding. Brazil`s real retreated versus all major counterparts. The dollar rally “continued with fairly decent readings on the Institute for supply Management” non-manufacturing index, Fabian Eliasson, head of U.S. currency sales in New York at Mizuho Financial Group Inc., said in a phone interview. “Overall, the market turned a little bit dollar positive.” The Bloomberg U.S. Dollar Index, which records the greenback versus 10 major currencies, bolstered 0.3 percent to 1,015.99 at 5 p.m. New York time after reaching 1,016.64. The index touched 1,017 yesterday, the topmost level since September 18. The yen boosted 0.4 percent to 132.72 per euro after surging to 132.37, the strongest performing mark since October 10. Japan’s currency inched up 0.1 percent to 98.50 per dollar. The euro sagged down 0.3 percent to $1.3474 after backing down to $1.3442 yesterday, the lowest since September 18.
Posted on: Wed, 06 Nov 2013 07:50:57 +0000