Market news
28.04.2011, 07:56

Asian session: The dollar fell

 

Data:
04:36 Japan BoJ Interest Rate Decision (Apr 28) 0.1% 
05:00 Japan Construction Orders (YoY) (Mar) -11.0% 
05:00 Japan Housing Starts (YoY) (Mar) -2.4%

 

The dollar fell to a 16-month low against the euro as the Federal Reserve’s pledge to keep interest rates near zero to stimulate growth spurred investors to buy higher-yielding assets.
The Dollar Index, which tracks the greenback against the currencies of six major U.S. trading partners, declined 0.5 percent to 72.932, after dropping to 72.878, the lowest level since July 2008.
New Zealand’s dollar dropped from near a three-year high after Reserve Bank Governor Alan Bollard left interest rates at a record low and said the economic outlook “remains very uncertain.” 
New Zealand’s dollar snapped a two-day gain as central bank Governor Bollard said monetary policy won’t change for some time and called the currency’s recent advance “unwelcome.”

The yen touched the lowest in two weeks versus the euro as Asian stocks extended a rally in shares around the world. 

EUR/USD: the pair shown high in the field of $1,4880 then decreased.
GBP/USD: the pair shown high in the field of $1,6740 then returned below a mark $1,6700. 
USD/JPY: the pair decreased in around Y81,60. 



The German state employment data is released at 0755GMT.

Across the Atlantic, the Canadian February employment data is released at 1230GMT. In the US, also at 1230GMT, the main release is the Q1 US GDP data and the April 23 week jobless claims data. The advance estimate for first quarter GDP is expected to be at a 1.8% rate of growth, down from the 3.1% gain in the previous quarter. 

 

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