Investing.com - The dollar slid lower against the yen and the
euro on Monday as markets awaited further indications on how long
the Federal Reserve will keep its stimulus policies in place.
During U.S. morning trade, USD/JPY edged down 0.19% to 99.98,
holding below the two-month highs of 100.42 struck on Friday.
The dollar remained under pressure after Fed Chairwoman nominee
Janet Yellen defended the bank's USD85 billion-a-month asset
purchase program last week, saying it was "imperative" that the Fed
does everything in its power to ensure a robust recovery.
The comments cemented the view that the bank will keep its easy
money policies in place well into the beginning of next year.
Investors were turning their attention to the minutes of the Fed's
October meeting, as well as a speech by Fed Chairman Ben Bernanke
on Wednesday for further indications on the future course of U.S.
Elsewhere, the euro rose to more than one-week highs against the
dollar, with EUR/USD rising 0.19% to 1.3521 from Friday's close of
In the euro zone, data on Monday showed that the bloc's trade
surplus widened to EUR13.1 billion in September from EUR8.6billion
a year earlier. The report said exports rose 3% on a year-over-year
basis, while imports were flat.
Meanwhile, Germany's central bank said in its monthly report that
there is a good chance that the economic recovery in Germany will
be further cemented in the coming months.
The dollar edged higher against the pound, with GBP/USD slipping
0.07% to 1.6106.
Elsewhere, the dollar was lower against the Swiss franc, with
USD/CHF down 0.32% to 0.9197.
The greenback was broadly lower against the Australian, New Zealand
and Canadian dollars, with AUD/USD rising 0.27% to 0.9396, NZD/USD
climbing 0.35% to trade at 0.8365 and USD/CAD sliding 0.12% to
The growth linked dollars were boosted after China outlined a
series of broad economic reforms late Friday, including the easing
of the one-child policy, reinforcing investor confidence in the
The U.S. dollar index, which tracks the performance of the
greenback versus a basket of six other major currencies, was down
0.19% to 80.71.
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