The Federal Reserve lowered the federal funds rate from 2.25% to 2% today during the scheduled meeting of the Federal Open Market Committee, saying that the current measures may be enough to remove the risks.
The U.S. dollar continues to head for the first monthly gain against its European counterpart this year as the market participants await the FOMC rate decision and a statement that are scheduled for release today.
The Great Britain pound continued its growth against the euro and the U.S. dollar today, even after the housing prices fell again and the chances fore more interest rate cuts by the Bank of England went up.
The Singapore currency had its worst week in a year on the Forex market, as it lost along with the other Asian currencies to the U.S. dollar, because the investors began to expect that the U.S. interest rate will unchanged rather than lowered next time.
The U.S. dollar gained against the euro today on Forex market for a third day in a row, as the yesterday’s U.S. fundamental data reassured traders that the Federal Reserve will keep the interest rate unchanged on its next week meeting.
The Indian rupee declined today to its monthly minimum level on the Forex market as the domestic companies had to purchase more U.S. dollars to pay for the imports, including oil.
The Australian dollar reached a fresh 24-year high against the U.S. dollar today as the consumer prices in Australia soared above the market’s expectations in March and are now pressing on the central bank to go for the further interest rate hikes.
Euro reached a new historical maximum against the U.S. dollar today after another European Central Bank official stated that the bank will be acting thoroughly in order to keep the consumer price inflation rate down.
The Canadian dollar was falling slightly yesterday and today against the other world currencies as the traders expected the interest rate decision of the Bank of Canada monetary policy meeting, which is scheduled for 22nd of April.
The U.S. dollar decline versus the European currency has slowed down recently as the investors relied on the intervention by the G7 to overcome the global currency imbalance and strengthen the dollar.