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The Measure Was &Nbsp, And The US Dollar Index Fell 0.65% On Friday.

2011/8/27 9:21:00 56

Measure Of Width

On Friday morning, Beijing time, on Friday, Federal Reserve Chairman Bernanke did not make any further progress during the speech of the world bank central bankers' economic seminar.

Quantification

The prospect of easing measures, however, indicates that the Fed decision committee will discuss more choices of economic stimulus measures at the end of September at the regular meeting on interest rates, and market participants tend to interpret this as the possibility of more monetary easing by the Fed.

The dollar weakened against a variety of major currencies on Friday, and the US dollar index fell 0.65%.


Deadline for New York

foreign exchange

At the end of the market, the US dollar index, which tracks six major currencies, dropped 73.75 at 73.75.

The euro rose to $1.4483 against the dollar, up 0.80%, and the pound rose 0.32% to $1.6335 against the dollar.


At the beginning of Bernanke's speech, he once eased the market judgement that the Fed would withdraw from monetary easing and further downward pressure on the US dollar exchange rate, resulting in a very short rebound trend for the US dollar against several major currencies.

The euro and the US dollar once reported $1.4329 after Bernanke's speech, compared with a slight decline on Thursday.


Some analysts pointed out that Bernanke said in his speech that next month's interest rate decision-making meeting will be extended to a two day session. The Marc Brown, head of Harriman global monetary strategy, believes that this will exacerbate the speculation that the Federal Reserve intends to seek consensus as much as possible before taking the next step.

He also said that the change in the exchange rate of the Swiss Franc in a variety of currencies may also have an impact on the recent rally in the stock market.

Federal Reserve

The judgement of the market.

On Friday, the US dollar rose 1.738% against the Swiss franc, to 0.8078 Swiss francs; the euro rose 2.552% against the Swiss Franc at 1.1699 Swiss francs.


In his speech that day, Bernanke pointed out that the US economy still maintained a "mild recovery" trend and will continue to strengthen over time.

Before the market participants generally expected that Bernanke would clearly propose new monetary easing measures in his speech, and led to a week's upward movement in the stock market and the depreciation of the US dollar.


On the other hand, market participants also stressed that in his speech today, Bernanke also criticized the US Congress's recent persistent confrontation over the debt ceiling and urged lawmakers to do their job to promote economic growth.

Andrew Wilkinson, a senior market analyst for interactive dealers, pointed out that "Bernanke tried to dump some of the burden of the Fed," so called on Congress to find ways to provide some short-term financial incentives for the US economy, Andrew Wilkinson.

This highly anticipated speech did not mention future quantitative easing measures, but reiterated the Fed's August 9th decision statement.


In terms of major macroeconomic data, the US government reported that the economic growth rate in the second quarter was 1%, which was lower than the previous estimate and was not as widely expected by economists.

Forex.com monetary strategist Brian Dolan (Brian Dolan) said, "after the second quarter GDP figures released, it is difficult to continue to maintain optimism, I also doubt whether the stock market can continue to go up."


In other currencies, Japanese Prime Minister Naoto Kan officially announced his resignation and will hold elections next Monday. The US dollar fell 1.11% to 76.70 yen on Friday, the euro fell 0.317% to the yen, and 111.0850 yen; the Australian dollar rose 1.24% to 1.0558 dollars.


The euro has risen 0.6% against the dollar since a week ago.

Gain

It was 8.2%; the US dollar index fell 0.2% this week, down 6.6% since 2011; the US dollar fell 0.8% in the past five days against the British pound, and 4.7% since 2011.

The US dollar rose 0.3% against the yen, down 5.4% this year.


 
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