Dollar retreat from the highest level in 3 years: Dollar fell from its highest level in three years against a basket of major currencies on Monday, but is expected to enhance the gains amid expectations the possibility of reducing the U.S. monetary stimulus program in September after encouraging data for job growth released on Friday. And resulted in speculation that the U.S. economic recovery is leading the world and that the Federal Reserve (Fed) will reduce its program to buy bonds to rally, the dollar stood at around 5% since mid-June, which prompted some traders to believe that the movement was too fast. Dollar retreat from the highest level in 3 years The index jumped 1.5% on Friday in its biggest rise in 20 months. The euro rose 0.3% to 1.2872 dollars but still near its lowest level in seven weeks, which struck on Friday of 1.2806 dollars, still the euro under pressure after it said Mario Draghi President of the European Central Bank last week that interest rates will remain low for an extended period. The dollar fell 0.2% to 100.99 yen after rising earlier in the session to its highest level in a month and a half at 101.53 yen. egyptthisday.blogspot/2013/07/dollar-retreat-from-highest-level-in-3.html
Posted on: Mon, 08 Jul 2013 23:48:32 +0000
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