{"id":46620,"date":"2013-08-14T10:19:00","date_gmt":"2013-08-14T10:19:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-euro-down-against-dollar-sterling-up-after-boe-minutes\/46609\/"},"modified":"2013-08-14T10:19:00","modified_gmt":"2013-08-14T10:19:00","slug":"forex-market-update-euro-down-against-dollar-sterling-up-after-boe-minutes","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/forex-market-update-euro-down-against-dollar-sterling-up-after-boe-minutes\/46620\/","title":{"rendered":"Forex Market Update: Euro Down Against Dollar, Sterling Up after BOE Minutes"},"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>Notwithstanding a spate of positive GDP data from the <a href=\"http:\/\/www.knowfinance.com\/euro-zone\/\" target=\"_blank\" rel=\"noopener\">euro zone<\/a>, the euro slipped against the U.S. dollar on Wednesday as rising yields on treasuries amid growing speculation that the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a>\u2019s multi-billion asset purchase program could be tapered sooner than later, supported the demand for greenback.<\/p>\n<p><span id=\"more-46620\"><\/span><\/p>\n<p>At last check, the dollar index, a measure on U.S. unit\u2019s performance against a basket of six major traded currencies, inched up 0.02% to 81.79.<\/p>\n<p>The euro was last down 0.10% against the dollar to trade at $1.3249<\/p>\n<p>Earlier today, an economic survey showed that the euro zone\u2019s GDP rose 0.3% in the second quarter of 2013, beating economists\u2019 expectation for 0.2% increase. Europe\u2019s largest economy, Germany and the second largest economy, France also posted higher-than-expected GDP growth in the second quarter.<\/p>\n<p>The euro initially gained against the dollar but quickly turned lower as the overall outlook of the euro zone\u2019s economy, especially, the peripheral economies, is still fragile. In this backdrop, it is highly unlikely that the European Central Bank (ECB) will depart from its accommodating monetary policy stance.<\/p>\n<p>\u201cGeneral dollar demand and rising U.S. Treasury yields are keeping the euro&#8217;s gains at bay. It didn&#8217;t react much to the better euro zone GDP data,\u201d said Neil Jones, head of hedge fund FX sales at Mizuho Corporate Bank, according to Reuters.<\/p>\n<p>Meanwhile the sterling rose against the dollar after minutes from the Bank of England\u2019s (BOE) latest policy rate meeting showed that the vote on dovish forward looking guidance was not unanimous.<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-euro-down-against-dollar-sterling-up-after-boe-minutes\/46620\" data-title=\"Forex Market Update: Euro Down Against Dollar, Sterling Up after BOE Minutes\"><\/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\/20130820170234js_\/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-held-moderate-gains-by-mid-day-trade\/46736\"><br \/>\nStocks Held Moderate Gains By Mid-day Trade<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-trade-slightly-higher\/46733\"><br \/>\nStocks Trade Slightly Higher<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-sharply-lower-as-investors-eye-feds-minutes\/46731\"><br \/>\nForex Market Update: Dollar Index Sharply Lower as Investors Eye Fed\u2019s Minutes<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-slightly-down-silver-prices-plunge-more-than-1-50\/46730\"><br \/>\nGold Prices Slightly Down, Silver Prices Plunge More Than 1.50%<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-futures-up-after-best-buy-home-depot-results\/46727\"><br \/>\nStocks Futures Up After Best Buy &#038; Home Depot Results<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/urban-outfitters-q2-profit-climbs-25-urbn\/46722\"><br \/>\nUrban Outfitters Q2 Profit Climbs 25% (URBN)<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/bob-evans-q1-profit-down-sharply-bobe\/46721\"><br \/>\nBob Evans Q1 Profit Down Sharply (BOBE)<\/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\/20130820170234im_\/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>Notwithstanding a spate of positive GDP data from the euro zone, the euro slipped against the U.S. dollar on Wednesday [&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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