Dollar broadly lower after Obama election victory 7-11-2012
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Forexpros - The U.S. dollar was broadly lower against the other major currencies on Wednesday, after U.S. President Barack Obama’s re-election boosted chances that the Federal Reserve’s policy of quantitative easing will remain in place.
During European morning trade, the dollar was lower against the euro, with EUR/USD up 0.28% to 1.2849.
President Obama defeated Republican contender Mitt Romney, securing the 270 votes in the electoral college needed to win the race.
Investors’ attention began to focus on the fiscal cliff, USD500 billion of automatic tax hikes and spending cuts due to come into effect on January 1 unless lawmakers can reach an agreement, clouding the outlook for U.S. and global growth.
Market participants were looking ahead to a Greek parliamentary vote later in the day, on an austerity bill necessary for Athens to secure its next installment of bailout funds.
The euro was little changed after official data showed that retail sales on the bloc fell by 0.2% in September, compared to expectations for a 0.1% decline.
The greenback was slightly lower against the pound, with GBP/USD edging up 0.09% to 1.6009.
Elsewhere, the greenback was steady against the yen, with USD/JPY inching up 0.02% to 80.37, but was lower against the Swiss franc, with USD/CHF down 0.32% to 0.9398.
The Swiss National Bank said earlier that foreign currency reserves fell to CHF424.4 billion last month, from a record CHF429.5 billion in September, indicating that the central bank has reduced the scale of currency market operations to maintain the minimum exchange rate of 1.20 francs per euro.
Separately, official data showed that Swiss consumer price inflation ticked up 0.01% in October, compared to expectations for a 0.3% increase.
The greenback was broadly lower against its Canadian, Australian and New Zealand counterparts, with USD/CAD shedding 0.37% to hit 0.9884, AUD/USD rising 0.25% to 1.0459 and NZD/USD up 0.31% to 0.8298.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.21% to 80.54.
Later Wednesday, Germany was to produce official data on industrial production.
Hello and welcome in a blog breaking news Alfrux
Breaking news Forex currency market, forex market GMT. Forex traders
Urgent and exclusive news about the trade and the latest news currency and
currency rates, explanations profit of Alfrux, SEC
Breaking forex news
Forexpros - The U.S. dollar was broadly lower against the other major currencies on Wednesday, after U.S. President Barack Obama’s re-election boosted chances that the Federal Reserve’s policy of quantitative easing will remain in place.
During European morning trade, the dollar was lower against the euro, with EUR/USD up 0.28% to 1.2849.
President Obama defeated Republican contender Mitt Romney, securing the 270 votes in the electoral college needed to win the race.
Investors’ attention began to focus on the fiscal cliff, USD500 billion of automatic tax hikes and spending cuts due to come into effect on January 1 unless lawmakers can reach an agreement, clouding the outlook for U.S. and global growth.
Market participants were looking ahead to a Greek parliamentary vote later in the day, on an austerity bill necessary for Athens to secure its next installment of bailout funds.
The euro was little changed after official data showed that retail sales on the bloc fell by 0.2% in September, compared to expectations for a 0.1% decline.
The greenback was slightly lower against the pound, with GBP/USD edging up 0.09% to 1.6009.
Elsewhere, the greenback was steady against the yen, with USD/JPY inching up 0.02% to 80.37, but was lower against the Swiss franc, with USD/CHF down 0.32% to 0.9398.
The Swiss National Bank said earlier that foreign currency reserves fell to CHF424.4 billion last month, from a record CHF429.5 billion in September, indicating that the central bank has reduced the scale of currency market operations to maintain the minimum exchange rate of 1.20 francs per euro.
Separately, official data showed that Swiss consumer price inflation ticked up 0.01% in October, compared to expectations for a 0.3% increase.
The greenback was broadly lower against its Canadian, Australian and New Zealand counterparts, with USD/CAD shedding 0.37% to hit 0.9884, AUD/USD rising 0.25% to 1.0459 and NZD/USD up 0.31% to 0.8298.
The dollar index, which tracks the performance of the greenback versus a basket of six other major currencies, was down 0.21% to 80.54.
Later Wednesday, Germany was to produce official data on industrial production.
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