{"id":47984,"date":"2013-10-18T09:04:00","date_gmt":"2013-10-18T09:04:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-falls-to-eight-and-half-month-low\/47982\/"},"modified":"2013-10-18T09:04:00","modified_gmt":"2013-10-18T09:04:00","slug":"forex-market-update-dollar-index-falls-to-eight-and-half-month-low","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-falls-to-eight-and-half-month-low\/47984\/","title":{"rendered":"Forex Market Update: Dollar Index Falls to Eight and Half Month Low"},"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 dollar index slipped to its eight and half month low on Friday as investors are worried that Washington\u2019s temporary solution to avert the debt default will stoke uncertainty, which in turn keep pressure on the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> to continue its bond purchase program.<\/p>\n<p><span id=\"more-47984\"><\/span><\/p>\n<p>At last check, the dollar Index, a gauge on U.S. unit\u2019s performance against a basket of six major traded currencies, slipped 0.07% to 79.63.<\/p>\n<p>Analysts say that the recent government shutdown knocked-down both the business and consumer sentiment. In addition, Washington\u2019s policy of \u2018kicking the can down the road\u2019 is also keeping investors edgy. The budget deal, which was passed on Wednesday, allows the treasury to expand its borrowing authority until Feb. 7.<\/p>\n<p>Market participants had anticipated the <a href=\"http:\/\/www.knowfinance.com\/federal-reserve-system-fed\/\" target=\"_blank\" rel=\"noopener\">Federal Reserve<\/a> to start scaling down its asset purchase program by September.<\/p>\n<p>However, the outgoing Fed Chairman Ben Bernanke wrong-footed everyone by keeping the bank\u2019s accommodative monetary policy intact in the last open market committee meeting.<\/p>\n<p>Later, the minutes showed that most of the policymakers were in favor of a tapering the bond purchase program.<\/p>\n<p>However, the Fed will now remain reluctant given that lawmakers haven\u2019t found a permanent solution for the debt-ceiling issue.<\/p>\n<p>Earlier this month, Dallas Fed President, Richard Fisher also said that he doubted the scaling down of economic stimulating measures will begin from Oct.\u00a0 due to the negative impact arising from the shutdown.<\/p>\n<p>\u201cExpectations for tapering have been pushed out and that will be negative for the dollar &#8230; The trend is definitely pointing towards $1.40 for the euro,\u201d said Niels Christensen, currency strategist at Nordea in Copenhagen, according to Reuters.<\/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-falls-to-eight-and-half-month-low\/47984\" data-title=\"Forex Market Update: Dollar Index Falls to Eight and Half Month Low\"><\/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\/20131022051648js_\/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-mixed-as-investors-remain-cautious-ahead-of-nonfarm-payrolls-data\/48040\"><br \/>\nStocks End Mixed as Investors Remain Cautious Ahead of Nonfarm Payrolls Data<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-steady-silver-prices-rise-sharply\/48034\"><br \/>\nGold Prices Steady; Silver Prices Rise Sharply<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-mixed-in-mid-day-trading-27\/48029\"><br \/>\nStocks Mixed in Mid-Day Trading<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/forex-market-update-dollar-index-rises-as-market-anticipates-strong-non-farm-payrolls-report\/48027\"><br \/>\nForex Market Update: Dollar Index Rises as Market Anticipates Strong Non-Farm Payrolls Report<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stocks-trading-mixed-2\/48024\"><br \/>\nStocks Trading Mixed<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/gold-prices-steady-silver-prices-gain-2\/48018\"><br \/>\nGold Prices Steady; Silver Prices Gain<\/a><\/li>\n<li><a href=\"http:\/\/www2.thestockmarketwatch.com\/stock-market-news\/stock-futures-point-to-flat-start\/48016\"><br \/>\nStock Futures Point to Flat Start<\/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\/20131022051648im_\/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 dollar index slipped to its eight and half month low on Friday as investors are worried that Washington\u2019s temporary 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