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Dollar retreats on economic stimulus expectationsThe dollar declined dramatically versus the majority of its major currency counterparts yesterday on the speculation of additional monetary stimulus from the Federal Reserve. This speculation is owed to the U.S. unemployment rate rising to the 8.3% level, according to figures released on Friday. Also, the European Central Bank is expected to introduce policies to boost the Eurozone economy. This comes as German chancellor Angela Merkel gave her backing to the ECB purchasing government bonds. This is quite notable as Merkel was strongly opposed to this measure just a few weeks ago.The greenback made heavy declines versus the majority of its peers yesterday. The bearishness of the dollar is continuing this morning, as investors favor higher-yielding assets. The EUR/USD is up this Monday morning by 0.1% at $1.2410. The USD/CAD is down by 0.07% at $0.9995. The AUD/USD is higher by 0.15% at $1.0586. Archived NewsAs an ECMarkets Trader, you have unlimited access to all our archived news Click here to go to the News Archive |
  
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