{"id":46247,"date":"2013-07-29T09:12:00","date_gmt":"2013-07-29T09:12:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-slips-as-investors-eye-fomc\/46227\/"},"modified":"2013-07-29T09:12:00","modified_gmt":"2013-07-29T09:12:00","slug":"forex-market-update-dollar-slips-as-investors-eye-fomc","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-slips-as-investors-eye-fomc\/46247\/","title":{"rendered":"Forex Market Update: Dollar Slips as Investors Eye FOMC"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p>The U.S. dollar traded broadly lower on Monday as investors cut positions in the U.S unit, ahead of the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a>\u2019s policy rate statement on Wednesday, which according to market grapevine, could herald a dovish forward-looking guidance.<\/p>\n<p><span id=\"more-46247\"><\/span><\/p>\n<p>The U.S. dollar index, a measure on U.S. unit vis-\u00e0-vis\u00a0 a basket of six major traded currencies, traded as low as 81.50 on Monday, down from its previous close of 81.62.<\/p>\n<p>At last check, the Index was down 0.04% to 81.62.<\/p>\n<p>Commenting over slide in the dollar index Alvin Tan a <a href=\"http:\/\/www.knowfinance.com\/currency\/\" target=\"_blank\" rel=\"noopener\">currency<\/a> strategist at Societe Generale said, \u201cInvestors are trimming long dollar positions going into the Fed meeting as they are expecting the Fed not to just have a dovish bias but also a pledge to keep rates low,\u201d according to Reuters.<\/p>\n<p>Tan, however, added that the Fed will eventually start the winding down of its asset purchase program, which in turn could boost the U.S. dollar. Thus, \u201cAny dip in the dollar is a buying opportunity,\u201d said Tan.<\/p>\n<p>Meanwhile, the Labor Department\u2019s monthly non-farm payrolls report will be closely watched. The job data is slated to be released on Friday. A strong job data will support the case for early winding tapering of the quantitative easing. According to Reuters\u2019 poll, economists expect 185,000 net job additions in July while the unemployment rate is expected to fall to 7.5%.<\/p>\n<p>Meanwhile, the U.S. dollar tumbled to its one-month low against the yen on Monday. The Nikkei 225 plunged 3.32% amid reports that the Japanese economy was beginning to lose its momentum. Typically, the Nikkei and yen are inversely correlated. Investors in order to cut losses, take safety in the Japanese currency, which is considered as highly liquid.<\/p>\n<p>At last check, the dollar was down 0.24% to trade at 97.86 yen.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-slips-as-investors-eye-fomc\/46247\" data-title=\"Forex Market Update: Dollar Slips as Investors Eye FOMC\"><\/div>\n<p><script id=\"mNCC\" language=\"javascript\">  medianet_width='600';  medianet_height= '250';  medianet_crid='814932888';  <\/script>  <script id=\"mNSC\" src=\"https:\/\/web.archive.org\/web\/20130803074944js_\/http:\/\/contextual.media.net\/nmedianet.js?cid=8CUT71M67\" language=\"javascript\"><\/script> <\/p>\n<p><!-- AddThis Button BEGIN --><\/p>\n<div class=\"addthis_toolbox addthis_default_style addthis_32x32_style\">\n<a class=\"addthis_button_preferred_1\"><\/a><br \/>\n<a class=\"addthis_button_preferred_2\"><\/a><br \/>\n<a class=\"addthis_button_preferred_3\"><\/a><br \/>\n<a class=\"addthis_button_preferred_4\"><\/a><br \/>\n<a class=\"addthis_button_compact\"><\/a><br \/>\n<a class=\"addthis_counter addthis_bubble_style\"><\/a>\n<\/div>\n<p><script type=\"text\/javascript\">var addthis_config = {\"data_track_addressbar\":true};<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/s7.addthis.com\/js\/250\/addthis_widget.js#pubid=pennystocksfinder\"><\/script><br \/>\n<!-- AddThis Button END --><\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-end-higher-19\/46392\"><br \/>\nStocks End Higher<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-futures-pare-early-losses-after-tepid-job-data-silver-prices-rise-sharply\/46388\"><br \/>\nGold Futures Pare Early Losses After Tepid Job Data; Silver Prices Rise Sharply<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-remain-in-red-territory-3\/46385\"><br \/>\nStocks Remain in Red Territory<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-falls-after-non-farm-payrolls-data\/46383\"><br \/>\nForex Market Update: Dollar Index Falls After Non-Farm Payrolls Data<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-edge-lower-in-early-trading-10\/46380\"><br \/>\nStocks Edge Lower in Early Trading<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-tumble-silver-prices-also-hammered\/46376\"><br \/>\nGold Prices Tumble, Silver Prices Also Hammered<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-futures-gain-non-farm-payrolls-data-eyed\/46372\"><br \/>\nStocks Futures Gain, Non-Farm Payrolls Data Eyed<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/web.archive.org\/web\/20130803074944im_\/http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/userphoto\/5.jpg\" alt=\"edliston\" width=\"125\" height=\"125\" class=\"photo\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><!--script type=\"text\/javascript\">\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\n<\/script>\n<script type=\"text\/javascript\"\nsrc=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script--><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>The U.S. dollar traded broadly lower on Monday as investors cut positions in the U.S unit, ahead of the Federal 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