{"id":47626,"date":"2013-10-02T09:22:00","date_gmt":"2013-10-02T09:22:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-drops-further\/47622\/"},"modified":"2013-10-02T09:22:00","modified_gmt":"2013-10-02T09:22:00","slug":"forex-market-update-dollar-index-drops-further","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-drops-further\/47626\/","title":{"rendered":"Forex Market Update: Dollar Index Drops Further"},"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 Wednesday as lack of progress over the budget talks stoked concerns that the shutdown of federal agencies could continue for a longer period of time and lack of consensus over the debt-ceiling issue could potentially throw the U.S. economy in to doldrums.<\/p>\n<p><span id=\"more-47626\"><\/span><\/p>\n<p>The dollar Index, a measure on U.S. unit\u2019s performance against a basket of six major traded currencies, fell 0.32% to 79.93.<\/p>\n<p>The WSJ$ Index, whose <a href=\"http:\/\/www.knowfinance.com\/currency\/\" target=\"_blank\" rel=\"noopener\">currency<\/a> basket is slightly broader, was down 0.34% to 72.33.<\/p>\n<p>The first shutdown of federal agencies since 1996 came in to effect from the midnight of October 1. To every one\u2019s surprise, stocks traded sharply higher on the first trading day of a new quarter on Tuesday. Market Participants probably believed that the shutdown would not last too long; however, the anxiety resurfaced again on Wednesday with global equities coming under pressure.<\/p>\n<p>The lawmakers have about two weeks now to resolve the debt ceiling issue before the mid-October deadline. In case, the stalemate continues then the impact of shutdown could badly start hurting the U.S. economy. Already, almost 800,000 federal employees have been left on an unpaid leave.<\/p>\n<p>\u201cWe do fear that as this discussion drags on, volatility in the market will continue to increase,\u201d said Patrick Moonen, senior equity strategist at ING Investment Management, according to Reuters.<\/p>\n<p>The European Central Bank (ECB) has left the benchmark interest rate unchanged at 0.5%, which was in-line with expectations.<\/p>\n<p>The euro was last up 0.45% against the dollar to trade at $1.3587.<\/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-drops-further\/47626\" data-title=\"Forex Market Update: Dollar Index Drops Further\"><\/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\/20131005021919js_\/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-sharply-higher-19\/47692\"><br \/>\nStocks End Sharply Higher<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-slip-posts-about-2-weekly-loss-silver-price-also-edge-lower\/47687\"><br \/>\nGold Prices Slip, Posts about 2% Weekly Loss; Silver Price Also Edge Lower<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-bounce-back-after-a-shaky-start\/47685\"><br \/>\nStocks Bounce Back after a Shaky Start<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-euro-edges-down-against-dollar-dollar-index-up\/47683\"><br \/>\nForex Market Update: Euro Edges Down against Dollar, Dollar Index Up<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-flat-in-early-trade\/47681\"><br \/>\nStocks Flat in Early Trade<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-mainly-flat-silver-prices-edge-lower-2\/47676\"><br \/>\nGold Prices Mainly Flat, Silver Prices Edge Lower<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stock-futures-gain-12\/47674\"><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\/20131005021919im_\/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 Wednesday as lack of progress over the budget talks stoked concerns that the 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