October 7, 2010
- A d v e r t i s e m e n t
The dollar’s downtrend gathered pace on Thursday as it slid to a 15-year low versus the Japanese yen and an all-time low against the Swiss franc on the prospect of more money-printing by the U.S. Federal Reserve.
The Australian dollar surged to a 27-year high against its U.S. counterpart after surprisingly strong jobs data revived talk of a Reserve Bank rate hike, while broad dollar selling pushed the euro to an eight-month high.
The Bank of England and the European Central Bank both stood pat on their monetary policies on Thursday, underlining the possibility that the Fed may lead the way into more aggressive quantitative easing, which is seen knocking the dollar lower.