The dollar slumped to a one-month low against the yen on expectations that the Federal Reserve will affirm at its monetary policy meeting this week that it intends to keep interest rates low for an extended period.
The dollar index, which shed 1.2 percent last week for its third straight weekly loss, is holding just above a key chart support, a break of which could spur more loss-cutting in holiday-thinned trade.
The yen was the biggest mover in Asian trade, with the dollar/yen falling 0.5 percent to 97.80 yen, having fallen as low as 97.635, its lowest since late June.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.
Latest posts by marketpulsefxstaff (see all)
- Oil Remains Near Multi-Month Lows - 6 August 2015
- U.S. Dollar Higher on Recent Data - 6 August 2015
- Greece’s PM Tsipras: Loan Deal with Lenders Close - 6 August 2015