Reuters: US Dollar Report: FOREX-Dollar buoyed by FOMC statement; gains vs yen, euro

Reuters: US Dollar Report Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

FOREX-Dollar buoyed by FOMC statement; gains vs yen, euro Aug 1st 2012, 18:53 NEW YORK | Wed Aug 1, 2012 2:53pm EDT NEW YORK Aug 1 (Reuters) - The U.S. dollar strengthened against the euro and yen on Wednesday after the Federal Reserve refrained from offering fresh signs of monetary stimulus for the slowing economy. The euro hit a global session low of $1.2231 and last traded at $1.2238, down 0.5 percent on the day. Against the yen, the dollar last traded up 0.3 percent 78.36. "The statement clearly had a dovish bias, with the Fed saying that the U.S. economy is decelerating and it seemed like there is some stimulus action in the works. But overall it was less dovish than the market had hoped," said Richard Franulovich, senior currency strategist at Westpac in New York. "Again, there were very few details on further Fed action. So I think that's why the dollar rallied," he added.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions