Dollar tumbles broadly as Fed signals interest rates will remain at record low in the near future - Nov 4
04 November 2009 @ 05:16 pm EDT
The greenback extended intra-day losses against most of its counterparts (except the Japanese yen) on Wednesday after the Federal Reserve kept interest rates unchanged in a range of 0-0.25% as widely expected and said that rates would stay there for an 'extended period'. The Fed stated that U.S. economic activity has continued to pick up but it would remain weak for a time despite policy actions helped. In addition, a report showed that U.S. private employers shed 203,000 jobs in October, fewer than a revised 227,000 jobs lost in September fm 254,000 originally reported. U.S. ISM non-manufacturing index came in at 50.6 in October, lower than economists' forecast of 51.5 n 50.9 in September.
For more forex information, go to
www.acetraderfx.com