{"id":47312,"date":"2013-09-18T09:28:00","date_gmt":"2013-09-18T09:28:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-slips-ahead-of-feds-policy-rate-statement-pound-gains-after-boe-minutes\/47310\/"},"modified":"2013-09-18T09:28:00","modified_gmt":"2013-09-18T09:28:00","slug":"forex-market-update-dollar-index-slips-ahead-of-feds-policy-rate-statement-pound-gains-after-boe-minutes","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-slips-ahead-of-feds-policy-rate-statement-pound-gains-after-boe-minutes\/47312\/","title":{"rendered":"Forex Market Update: Dollar Index Slips Ahead of Fed\u2019s Policy Rate Statement, Pound Gains 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>The U.S. dollar index eased on Wednesday as investors expect that the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a>\u2019s pull-back of bond purchase program will be mild, to begin with.<\/p>\n<p><span id=\"more-47312\"><\/span><\/p>\n<p>The Fed\u2019s two-day open market committee meeting will conclude on Wednesday. At 2:30 p.m. EST, the Fed\u2019s chairman Ben Bernanke will address a press conference. Bernanke will provide the bank\u2019s outlook on the U.S. economy, including the unemployment level. However, the entire spotlight will be on the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a>\u2019s pull-back plans (bond purchase).<\/p>\n<p>It widely believed that the bank will reduce the asset purchase program by $10 billion to $15 billion while benchmark interest rates are likely to remain at record low levels.<\/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, slipped 0.03% to 81.13.<\/p>\n<p>\u201cWe expect the Fed to taper by $10 billion and some in the market are pushing for $15 billion. I think they are also going to try and push the message that rates aren&#8217;t going to go up anytime soon,\u201d said Paul Bednarczyk, head of research at 4CAST while speaking to Reuters.<\/p>\n<p>Meanwhile, the sterling edged up against the dollar on Wednesday after the Bank of England\u2019s (BOE) latest minutes showed that the policymakers are not in favor of offering more economic stimulating measures.<\/p>\n<p>At last check, the pound gained 0.37% against the dollar to trade at $1.5962.<\/p>\n<p>&nbsp;<\/p>\n<div class=\"nr_popular_placeholder\" data-permalink=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-slips-ahead-of-feds-policy-rate-statement-pound-gains-after-boe-minutes\/47312\" data-title=\"Forex Market Update: Dollar Index Slips Ahead of Fed\u2019s Policy Rate Statement, Pound Gains 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\/20130920072529js_\/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-on-a-mixed-note-75\/47347\"><br \/>\nStocks End on a Mixed Note<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-catapult-as-fed-opts-to-not-taper-qe3-siler-prices-also-surge\/47345\"><br \/>\nGold Prices Catapult As Fed Opts To Not Taper QE3; Siler Prices Also Surge<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-shed-early-gains-3\/47342\"><br \/>\nStocks Shed Early Gains<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-gain-in-early-trade-8\/47340\"><br \/>\nStocks Gain in Early Trade<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-near-seven-month-low-yen-falls-sharply\/47337\"><br \/>\nForex Market Update: Dollar Index Near Seven Month Low, Yen Falls Sharply<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-climb-more-than-4-silver-prices-soar-as-well\/47334\"><br \/>\nGold Prices Climb More Than 4%, Silver Prices Soar As Well<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stock-futures-gain-9\/47333\"><br \/>\nStock Futures Gain<\/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\/20130920072529im_\/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 index eased on Wednesday as investors expect that the Federal Reserve\u2019s pull-back of bond purchase program will 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