27 Sep 2013
US Dollar strengthens on FOMC's George headlines
FXstreet.com (Barcelona) - The US Dollar is enjoying a healthy bull run 2 hours into the Tokyo session, following remarks by FOMC board member, and a vocal hawk, Esther George, saying fundamentals of economy have improved substantially.
The most relevant headlines from George were: "She would start with a $15bn taper - slightly above $10bn Sept consensus - , she hopes for a ‘diverse’ Fed Board of Governors, inflation expectations are ‘pretty well anchored’," while also adding that "labor participation rate likely to fall further."
The EUR/USD, which has been well capped by 1.3500 along Asia, dropped towards last US lows at 1.3470, the AUD/USD suffered even a sharper fall, lifted up towards its daily pivot - London open - at 0.9370 only to decline into fresh weekly lows at 0.9332, meanwhile, the USD/JPY remains limited by 99.00 round number, having failed to hold above since early attempts 24h ago.
The most relevant headlines from George were: "She would start with a $15bn taper - slightly above $10bn Sept consensus - , she hopes for a ‘diverse’ Fed Board of Governors, inflation expectations are ‘pretty well anchored’," while also adding that "labor participation rate likely to fall further."
The EUR/USD, which has been well capped by 1.3500 along Asia, dropped towards last US lows at 1.3470, the AUD/USD suffered even a sharper fall, lifted up towards its daily pivot - London open - at 0.9370 only to decline into fresh weekly lows at 0.9332, meanwhile, the USD/JPY remains limited by 99.00 round number, having failed to hold above since early attempts 24h ago.