gnutrade.satya
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| The dollar slipped against both the euro and the yen |
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The dollar slipped against both the euro and the yen as investors braced for a speech from Federal Chairman Ben Bernanke speech on Friday.
Steven Englander, Citigroup's global head of G10 currency strategy said: "A second round of quantitative easing will likely put sharp downward pressure on the dollar, to some degree versus the euro and other G10 currencies, with potential for a broader dollar sell-off. Foreign investors are likely to view the renewed direct intervention as indicating that the Fed's balance sheet expansion and implicit monetization of fiscal expenditures are first line approaches to dealing with disappointing recovery prospects."
The dollar fell 0.2 percent to 84.44 yen, while the euro rose 0.5 percent to $1.2716. The yen rose to a 15-year high against the dollar.
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