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November 1st, 2012
Dollar Index Futures: The dollar gained against the yen as U.S. initial jobless claims declined to the fewest in three weeks and a measure of manufacturing activity rose more than forecast, adding to evidence the economy is recovering.
The pound climbed to the highest level in two weeks versus the dollar as a report showed U.K. house prices rebounded in October and Britain’s biggest business lobby raised its economic forecasts for this year and next. The Japanese currency earlier weakened for third day against the euro as investors awaited the release tomorrow of minutes of the Bank of Japan (8301)’s Oct. 4-5 meeting amid speculation the central bank will ease monetary policy further.
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October 9th, 2012
Dollar Futures: Investors should remain bullish on the dollar because issues within the U.S. economy pale in comparison with those in Europe and Australia, according to John Taylor of FX Concepts LLC.
The dollar is in a “box” between the important technical level of $1.29 per euro and downtrend levels of $1.3050 to $1.31, said Taylor, the founder and chief executive officer of currency-hedge fund FX Concepts LLC, which manages $3 billion. A closing price below $1.29 would be a “very bad” technical signal, Taylor said. The greenback will see a “significant” move after it breaks out of this range, he said.
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September 14th, 2012
Dollar Index Futures – The dollar fell to a four-month low against the euro on Federal Reserve Chairman Ben S. Bernanke’s plan to conduct open-ended quantitative easing, a process that tends to debase the U.S. currency.
The euro was set for the longest stretch of weekly gains against the yen since 2009 after comments by Finance Minister Jun Azumi signaled he’s ready to intervene to weaken the currency. Credit Suisse Group AG and Morgan Stanley raised their forecasts for the shared currency. The Singapore dollar strengthened to the highest in more than a year against the greenback.
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August 30th, 2012
Dollar Index Futures – The euro rose approached an eight- week high against the dollar as Italian borrowing costs dropped at an auction on optimism the European Central Bank may soon start buying euro nations’ bonds.
Europe’s shared currency advanced against most of its 16 major peers before Spanish and French leaders meet in Madrid amid speculation of a second bailout. The yen appreciated against the dollar after U.S. economic reports showed jobless claims rose and consumer spending climbed less than forecast. Norway’s krone rose against all its major peers even after a policy maker signaled the central bank won’t accept persistent currency strength.
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May 31st, 2012
Dollar Index Futures – The dollar posted its biggest monthly gain since 2011 in May, beating bonds, stocks and commodities for the first time this year as investors sought refuge in U.S. assets while Europe’s sovereign crisis worsened.
Intercontinental Exchange Inc.’s Dollar Index, which tracks the greenback against the currencies of six major U.S. trading partners, climbed 5.5 percent in May. Global fixed-income assets gained 1.1 percent, including reinvested interest, Bank of America Merrill Lynch indexes show. The MSCI All-Country World Index of stocks lost 8.9 percent with dividends, while the Standard & Poor’s GSCI Total Return Index of metals, fuels and agricultural products fell 13 percent.
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Dollar futures gain
March 12th, 2012
Dollar Index Futures – The dollar gained against most of its major counterparts as stronger U.S. economic data reduced bets the Federal Reserve would add to monetary stimulus, bolstering demand for the currency.
Higher-yielding currencies including Norway’s krone and the euro erased earlier losses against the dollar as stocks gained, amid increased demand for risk. The Australian and New Zealand dollars declined as China’s central bank weakened its daily fixing for the yuan after the nation had its biggest trade deficit in at least 22 years. The Dollar Index reached a six- week high after data last week showed U.S. employers boosted payrolls in February more than economists forecast.
“In the wake of those strong payrolls Friday, the market is left in a holding pattern ahead of retail sales and the U.S. Federal Open Market Committee meeting,” said Richard Franulovich, a senior currency strategist at Westpac Banking Corp. (WBC) in New York. “The dollar’s been driven higher by better news here.”
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March 1st, 2012
Dollar Index – The dollar depreciated against higher-yielding counterparts before a U.S. report forecast to show manufacturing in the world’s largest economy accelerated in February, reducing demand for a refuge.
South Africa’s rand and the Australian dollar were the biggest winners among the 16 most-traded currencies. The International Swaps & Derivatives Association said there would be no payout on $3.25 billion in Greek credit-default swaps. Federal Reserve Chairman Ben S. Bernanke testified yesterday before Congress without indicating that further monetary easing is under consideration.
“Signs of economic recovery will benefit higher-yielding currencies at the expense of the dollar,” said Henrik Gullberg, a currency strategist at Deutsche Bank AG in London. “Some are probably reassessing Bernanke’s comments yesterday and wonder if it’s too soon to rule out another round of quantitative easing.”
The dollar declined 0.3 percent to 7.4814 rand at 7:44 a.m. in New York. The Australian dollar gained 0.3 percent to $1.0762. The greenback was little changed at $1.3332 per euro and decreased 0.2 percent to 81.02 yen. The euro declined 0.2 percent to 83.55 U.K. pence and traded at 108.01 yen.
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