{"id":46347,"date":"2013-08-01T08:58:00","date_gmt":"2013-08-01T08:58:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-euro-down-against-dollar-dollar-index-rises\/46343\/"},"modified":"2013-08-01T08:58:00","modified_gmt":"2013-08-01T08:58:00","slug":"forex-market-update-euro-down-against-dollar-dollar-index-rises","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/forex-market-update-euro-down-against-dollar-dollar-index-rises\/46347\/","title":{"rendered":"Forex Market Update: Euro Down Against Dollar, Dollar Index Rises"},"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 euro fell against the U.S. dollar on Thursday as investors chose to cut positions on the common <a href=\"http:\/\/www.knowfinance.com\/currency\/\" target=\"_blank\" rel=\"noopener\">currency<\/a> ahead of the policy rate statement from the European Central Bank (ECB).<\/p>\n<p><span id=\"more-46347\"><\/span><\/p>\n<p>It is widely expected that the ECB will reaffirm its commitment towards accommodating monetary policy.<\/p>\n<p>As a result, the U.S. dollar found some support. Earlier today, the dollar index fell to its six-week low after the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> offered no clue on when it intends to scale down its asset purchase program.<\/p>\n<p>At last check, the euro fell 0.48% to trade at\u00a0 $1.3238, falling from its six-week high of $1.3345 hit on Wednesday after the dollar sunk following Bernanke\u2019s dovish remarks.<\/p>\n<p>The Fed chairman said that the bank would keep buying $85 billion worth bonds per month as it believes that inflation level is under control even as the economy shows a \u201cmodest\u201d growth.\u00a0 The statement holds lot of significance because so far the Fed has been consistently saying that the economy was showing a reasonable growth.<\/p>\n<p>\u201cThe Fed seems to have downgraded their overall economic assessment, thus capping the dollar,\u201d said Minori Uchida, chief currency analyst at the Bank of Tokyo-Mitsubishi UFJ while speaking to Reuters.<\/p>\n<p>The dollar Index, a gauge on U.S. unit\u2019s performance against a basket of six major traded currencies, was up 0.41% to 82.00.<\/p>\n<p>The U.S. dollar could climb further should the Friday\u2019s non-farm payroll numbers turn out better-than-expected.<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-euro-down-against-dollar-dollar-index-rises\/46347\" data-title=\"Forex Market Update: Euro Down Against Dollar, Dollar Index Rises\"><\/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\/20130803220157js_\/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\/athlon-shares-climb-nearly-38-on-first-trading-day-athl\/46399\"><br \/>\nAthlon Shares Climb Nearly 38% on First Trading Day (ATHL)<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/mylan-shares-rally-after-several-upgrades-myl\/46397\"><br \/>\nMylan Shares Rally After Several Upgrades (MYL)<\/a><\/li>\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<\/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\/20130803220157im_\/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 euro fell against the U.S. dollar on Thursday as investors chose to cut positions on the common currency ahead [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"closed","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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