Dollar Advances on Fed Hawkish Tone
The U.S. dollar advanced versus several key currencies after a Federal Reserve statement announcing that a number of stimulus to help the economic recovery will be lifted, as according to central bankers, the economy is already showing enough evidences of improvements to allow these measures.
The greenback gained after a Federal Reserve monetary policy statement published today showed optimism with hawkish attitudes from central bank officials, since several measures used to revive the U.S. economy from the worst recession in decades will expire and not be extended, allowing the dollar to touch the highest level in 6 months versus the euro.
EUR/USD traded at 1.4021 from a previous intraday rate of 1.4077.
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Earlier News About the US Dollar:
- Dollar Benifits From Chinese Lending Requirements (2010-01-20)
- Dollar Profits From Global Economic Pessimism (2010-01-16)
- Dollar Drops Slightly on Fed Comments (2010-01-13)
- Payrolls Cause Dollar's Weekly Decline (2010-01-09)
- Unexpectedly Negative Payrolls Force Greenback Down (2010-01-08)