Weekend roundup on US Dollar News
Dollar rebounds as U.S. economic growth meets expectations
The dollar rebounded slightly against most major currencies on Thursday as U.S. economic growth in the fourth quarter met market expectations.
Canadian dollar closed 0.29 of a cent lower at 97.90 cents US
The Canadian dollar closed at 97.90 cents US on Friday, down 0.29 of a cent. The U.S. dollar stood at 102.15 cents Cdn, up 0.31 of a cent.
US Dollar Consolidates Losses as Easing Price Pressures Boost Fed Rate Cut Expectations
Rising risk aversion paired with slowing inflationary pressures heightened US dollar volatility as it swayed throughout the trading session. Against the European currencies, the US dollar moved slightly lower against the euro as investors increased their bets of another rate cut by the Fed, while it accelerated against the British Pound as growth prospects look dim for the UK.
Dollar down on US GDP
It was in line with market expectations, which helped promote buying of the US dollar and resulted in the dollar drifting slightly lower from its close on the local session yesterday.
Currency falls on central bank warning
The New Taiwan dollar dropped nearly three-quarters of a percent against the greenback yesterday after the central bank showed its determination to prevent speculative attacks on the local currency, dealers said.
Is the Dollar Depressing Drug Companies?
In the past two weeks, the Federal Reserve cut the primary discount rate from 3.5% to 2.5%, on top of a large rate cut in January. In anticipation of and because of these rate cuts and a worsening economy, the U.S. dollar