Friday, November 20, 2015

Forex Market Update : Epic Research Singapore

The dollar weakened against the euro for a second session Thursday as investors sold the U.S. currency a day after Federal Reserve officials again signaled willingness to raise interest rates in December.

Cleveland Fed President Loretta Mester on Thursday said the economy has met the two tests laid out by the Federal Reserve to justify an interest-rate increase, joining a number of officials who support a hike as early as December.

The U.S. currency weakened against the euro EURUSD, -0.1770% which traded at $1.0738 in late Thursday trade from $1.0679 late Wednesday. The British pound GBPUSD, -0.0065%  rose to $1.5293 from $1.5235.

Late on Thursday, the dollar USDJPY, +0.05%  traded at ¥122.85, compared with ¥123.50 late Wednesday in New York.

The ICE U.S. Dollar Index DXY, +0.08%  a measure of the dollar against a basket of six rival currencies, was at 98.96, down 0.7% on the day.

The Australian dollar AUDUSD, +0.0834% advanced to $0.7196 from $0.7108.

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