Major Market Update The dollar headed for a weekly drop against most of its major peers as comments from Federal Reserve policy makers caused investors to push out expectations for when the central bank will reduce stimulus. The Canadian dollar rose to its highest level in three weeks after Federal Reserve Chairman Ben S. Bernanke said the U.S. economy still isn’t strong enough to do without monetary stimulus. The rupee snapped a two-day rally to weaken slightly on Thursday as importers including oil firms bought dollars.09935028511 Australia’s dollar fell against its major peers as traders ramped up bets the Reserve Bank will cut interest rates next month from an already record low. Chile’s central bank kept its key interest rate unchanged for the 18th consecutive month as the economy begins to invert more than a year of robust growth and slowing inflation.
Posted on: Fri, 12 Jul 2013 04:36:50 +0000
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