The U.S. dollar remains mixed as we head into the final session of the week. Now that Syria is has been back burner investors are squarely focused on the U.S. budget negotiations and the Federal Reserve’s stimulus program.
The U.S. dollar is clawing slowly higher against the Japanese yen but the move looks to be limited and volatility is likely to remain strong ahead of the congress debit ceiling and budget debates.
The U.S. dollar continues to remain under pressure since the Federal Reserve decided not to begin unwind its $85 billion monthly asset buying program.
Less than 24 hours after the surprise decision by the Federal Reserve not to begin it highly telegraphed tapering process of its $85 billion purchasing program we find the U.S. dollar mixed against the majors.
The U.S. dollar went on a wild ride Sunday evening on the headlines from Sunday afternoon that Larry Summers has taken his name out of the running for Fed Chairman.
As we head into the weekend traders are focusing on the today’s economic reports and speculation on next week’s FMOC meeting results.
Late yesterday evening (9:30p.m.EDT) the Aussie dollar dropped like a rock on the headlines of disappointing Australia’s unemployment.
The Aussie dollar has climbed to level not seen since July 29 after better than expected Australian Business Confidence report. The Australian Business Confidence report jumped to 6 for the month of August compared to July’s -3 reading.
The safe haven Japanese yen took a hit last night after the Olympic committee selected Japan to host the 2020 Olympic Games.
The U.S. Bureau of Labor Statistics reported that the non-Farm Payroll grew by 169k jobs in August disappointing market expectations of 180k and downward revised NFP for July to 104k.