Asian Session – Dollar loses some ground, RBA optimism helps AUD
November 19, 2013 7:29 am
The dollar posted modest losses versus both the euro and the yen during Tuesday’s Asian session.
A possible reason behind the dollar’s weakness was the market’s expectation that the Federal Reserve would keep pumping monetary stimulus at the same pace it has been doing during the past months.
The yen managed to keep the dollar under 100 yen, as the dollar lost 0.20% to trade at 99.78.
Some mild profit-taking in risk assets may have helped the yen, as the euro also lost 0.11% against the Japanese currency to trade at 134.91.
The euro gained 0.10% against the dollar to trade at 1.3517. Later during the European session, traders were expecting the release of the German ZEW investor sentiment index for November.
The Australian dollar gained 0.21% versus the US dollar to trade at 0.9396.
The assessment of the economy in the Reserve Bank of Australia’s latest meeting minutes was relatively upbeat as it noted that low interest rates were effective in stimulating the economy.
However, the RBA also noted that the value of the aussie was too high.
The dollar posted modest losses versus both the euro and the yen during Tuesday’s Asian session.
A possible reason behind the dollar’s weakness was the market’s expectation that the Federal Reserve would keep pumping monetary stimulus at the same pace it has been doing during the past months.
The yen managed to keep the dollar under 100 yen, as the dollar lost 0.20% to trade at 99.78.
Some mild profit-taking in risk assets may have helped the yen, as the euro also lost 0.11% against the Japanese currency to trade at 134.91.
The euro gained 0.10% against the dollar to trade at 1.3517. Later during the European session, traders were expecting the release of the German ZEW investor sentiment index for November.
The Australian dollar gained 0.21% versus the US dollar to trade at 0.9396.
The assessment of the economy in the Reserve Bank of Australia’s latest meeting minutes was relatively upbeat as it noted that low interest rates were effective in stimulating the economy.
However, the RBA also noted that the value of the aussie was too high.
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