By: Barbara Zigah
The U.S. Dollar held steady versus the single currency Euro in London trading, while investors debated whether or not the greenback could continue the rally on the heels of the report last week of lower-than-expected job losses in the United States in July. Analysts expect that U.S. interest rates will rise within the first quarter of next year, given the continuing growing health of the American economy.
Investors are also waiting to hear news from the conclusion of the policy meeting of the Federal Reserve Bank on Wednesday. As reported at 8:05 a.m. (GMT), the Euro was trading at $1.4161 versus the U.S. Dollar, near a 1-week low of $1.41 touched on yesterday. Investors expect that the Federal Reserve Bank will conclude, as planned, the Treasury purchase program it had instituted earlier while holding key interest rates steady.
The U.S. Dollar gained against the Pound Sterling, trading at $1.6431 yesterday in advance of the Bank of England’s release of the Inflation Report due to be released on Wednesday. Analysts are expecting that the dovish tone of the report coupled with the Bank of England’s continuing liquidity measures are weighing down the Pound Sterling.
U.S. Dollar mixed against the Euro/Pound Sterling
After working on Wall Street, Barb began her second career as a freelance writer at Daily Forex, where the CEO recognized fresh, untapped potential and was willing to give her a try. She’s never looked back. Since then, she’s worked steadily as a freelance writer and editor in the financial services and Forex-related industry.