Dollar rises to near eight-week high prior to Fed meeting

Source: Bloomberg
The Greenback almost reached its peak in nearly two months against major counterparts amid the outlook jobs numbers are going to introduce stronger economic growth, impelling the Fed to further subside stimulus today. The Dollar traded at $1.3411 per Euro after reaching $1.3409 yesterday. The Bloomberg Dollar Spot Index did not change much gaining 0.3% to 1,016.71.

 

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Wed, 30 Jul 2014 07:53:49 GMT

Kiwi exposed to intervention

New Zealand's overvalued currency may experience further declines after the RBNZ warned the Kiwi's level is "unjustified". The Reserve Bank of New Zealand lifted the official cash rate by 0.25% to 3.5% in July, the fourth raise since January. The Kiwi reached its strongest level since August 2011 in July this year. The New Zealand's currency, however, fell to 85.03 U.S. cents today, the lowest in

Wed, 30 Jul 2014 08:04:16 GMT

EU's sanctions on Russia

The EU and U.S. made additional sanctions on Russia's economy by targeting energy, banking and defense industries in order to get Putin to back off on Ukraine. EU governments agreed on restricting export of equipment and barring state-owned banks from selling bonds or shares in Europe. The IMF forecast that Russia's economy will expand by 0.2% from the previous 1.3%.

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