Dollar sinks before ‘busiest week in decades’

AFP
November 1, 2010

The dollar hit a 15-year low point against the yen on Monday and sank against the euro ahead of “the busiest week in decades” during which the US Federal Reserve could announce fresh stimulus measures.

• A d v e r t i s e m e n t

Financial markets will focus on major interest rate decisions from across the world, as well as mid-term elections and key jobs data in the United States, traders said.

“The busiest event week in decades gets started with a weaker dollar,” said analyst Kathleen Brooks at online trading site Forex.com.

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“Market angst is likely to reach fever pitch this week as we lead up to no less than five central bank meetings, mid-term elections in the US and a non-farm payroll report on Friday.

Full article here

This article was posted: Monday, November 1, 2010 at 12:51 pm

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