Friday, April 4, 2014

Epic Research Singapore : Forex Market Update

The dollar rose against major rivals Thursday as investors looked ahead to employment data due Friday, which could shed some light on the pace of the U.S. recovery. Dollar gains were visible against the euro, which fell after European Central Bank President Mario Draghi said bank officials had discussed quantitative easing at the last meeting.


The ICE dollar index DXY +0.03% , a gauge of the currency’s strength against six rivals, rose to 80.454 from 80.240 late Wednesday. The WSJ dollar index XX:BUXX +0.02% , an alternate gauge that pits the dollar against a wider basket of rivals, rose to 73.66 from 73.51.

The euro dropped nearly 1 cent as Draghi talked. In recent trade, the euro EURUSD -0.0386%  fell to $1.3719 from $1.3760 late Wednesday. 

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