Forex: Tuesday’s review
The dollar and yen jumped on concern global growth is stalling after the Federal Reserve said it saw “significant downside risks” to the U.S. economy, spurring demand for safer assets.
The Dollar climbed to a seven-month high as the Fed’s statement stoked concern the global economy is headed for a recession.
The euro fell to the weakest level since January versus the dollar and reached a fresh decade-low against the yen after euro-area services and manufacturing contracted this month, adding to concern the region’s debt crisis is deepening.
Australia’s dollar slid below parity with the greenback for the first time in six weeks and New Zealand’s currency slumped.
EUR/USD: the pair decreased and showed new low in $1.3385. Then pair restored to $1.3450 on American session.
GBP/USD: the pair was under pressure and closed at session low in $1.5330.
USD/JPY: yestherday the pair showed new low at Y76.10.
Focus today is set squarely on G20 Meetings and FOMC Member Dudley Speaks.
After ECB President Trichet Speaks.