Dollar Stalls After Fed Decision

Dollar Stalls After Fed Decision”

Mumbai: The rupee on Thursday weakened over 10-week low against the US dollar, tracking losses in the Asian currencies markets after the US Federal Reserve left rates unchanged.

The dollar index, which measures the U.S. currency's strength against major currencies, was trading at 92.579, up 0.08 percent from its previous close of 92.51, the business daily reported. The index had been down as much as 0.4% before the Fed announcement.

The Fed held rates unchanged but penciled in one more rate increase this year despite a recent slowdown inflation that had anxious many investors.

The Fed has already raised rates twice this year. The rupee has given a year-to-date return of 4.82% which is higher than most of its emerging markets peers.

The Fed also made a decision to begin shrinking its USD4.5 trillion balance sheet starting October, but said the process would be gradual and predictable, initially allowing USD10 billion in bonds to roll off each month.

On Wednesday, the rupee had logged its first gain in three sessions by rising 6 paise to 64.27 against the USA currency owing to fresh dollar unwinding by exporters.

On the rupee front, the home currency opened at 64.50 a dollar and touched a low of 64.53 - a level last seen on July 12, Mint reported.

"The rate at which the dollar had fallen over the last quarter has been quite big", said Ron Waliczek, a managing director in foreign exchange and interest rates at INTL FCStone Markets.

Expectations that US rates would remain lower helped drive the greenback down 8% this year before Wednesday.

Like this


22 September 2017
Oil prices flatten amidst OPEC concerns
The structure of oil futures prices suggests OPEC production cuts are beginning to have an impact, analysts say. US production has reached 9.51 million bpd, up from 8.78 million bpd after Hurricane Harvey hit the US Gulf.

22 September 2017
Nokia Oyj (NOK) Stock Rating Reaffirmed by UBS AG
When getting into the markets, most investors realize that riskier stocks may have an increased potential for higher returns. A certain stock may be considered to be on an uptrend if trading above a moving average and the average is sloping upward.

22 September 2017
Wilder Moving Average Above Simple Moving Average for Deutsche X-trackers MSCI EAFE Small Cap Hdg Eq ETF (DBES)
Deutsche X-trackers MSCI Em Mkts Hdg Eqty ETF (DBEM) moved -0.05% in the most recent session, touching a recent bid of 23.69. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend.

22 September 2017
Lava Jato 'não sofrerá revés' com Raquel, garantem magistrados
Raquel e Janot são de grupos opostos na PGR. "O presidente da República não foi alvo exclusivo do procurador-geral da República". Rodrigo Telles e Fernando Antonio de Alencar haviam manifestado vontade de permanecer no grupo de trabalho.

22 September 2017
Police given more time to question two men over Parsons Green bombing
The teenage suspect, who was detained in Dover on Saturday, is one of two to have been arrested over the Parsons Green attack. After leaving the train he spent 20 minutes in the station toilets, before joining the District Line towards central London .

22 September 2017
Over 100 migrants drown off Libyan coast
Three-quarters of the arrivals this year have landed in Italy, with the rest arriving in Greece, Cyprus and Spain. Libya is the main departure point for migrants trying to reach Europe by sea.

22 September 2017
Price Target Analysis of Xerox Corporation (XRX)
Xerox Corporation (XRX ) has an EBITDA margin of 14.49%, compared to an EBITDA margin of 7.17% for CDW Corporation (CDW). BidaskClub raised Xerox Corporation from a "hold" rating to a "buy" rating in a research report on Friday, August 18th.

22 September 2017
Odell Beckham Jr. says ankle 'came out straight' after debut
And, yes, he believes he can be the same dominant performer he's been in the past. "My mind is on another level. Beckham hopes he can play a leading role in helping Manning and the offense recover from a slow start.

22 September 2017
Under-performing Tevez blasts standard of Chinese football
He was then an unused substitute for Tuesday's dour 0-0 draw with Shandong Luneng. The fans treat it very differently as well.

22 September 2017
Fedex Corp (NYSE:FDX) Institutional Investors Sentiment
The firm owned 8,960 shares of the shipping service provider's stock after purchasing an additional 525 shares during the quarter. Currently, 890 million total shares are owned by the public and among those 881.97 million shares have been available to trade.