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U.S. Dollar at a Three-Month Low against the Euro

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U.S. Dollar at a Three-Month Low against the Euro

Post by joanfx on Sat Sep 08, 2012 10:05 pm

The greenback dropped to a fresh new three-month low against the euro as U.S. companies opened fewer positions in August than what analysts were expecting, sparking talks among investors that the Federal Reserve will announce additional monetary measures at its meeting next week. The Dollar Index slipped to its lowest level since May 11 as a possible third round of quantitative easing will dilute the value of the U.S. currency. The loonie advanced to its highest level in a year against the greenback after Statistics Canada announced that the country created more job openings than expected, fueling speculations of a possible rate hike. The Swiss franc declined to its lowest level since January against the common currency. The U.S. dollar dropped 1.3% to $1.2794 per euro at noon ET, posting its weakest level since May 22. The greenback lost 0.9% to 78.14 yen, while the euro rose 0.4% to 99.99 yen.

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