EUR/USD Performance Chart as at 3:30 a.m. Singapore time, 27/04/11

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HISTORICAL DETAILS 

% Change

1 Wk 2.04

1 Month 3.83%

3 Months 6.67%

6 Months 5.54%

1 Year 9.29%

 

52 WEEK

High 1.4653

Low 1.1877

 

BLOOMBERG MEDIAN FORECASTS

Q2 2011 1.42

Q3 2011 1.38

Q4 2011 1.37

Q1 2011 1.35

 

DAILY DETAIL

The euro advanced to a 16-month high against the dollar today, hitting 1.4631 at noon EST in New York, with little in the way of its advance as long as the US Federal Reserve still lags other major central banks in raising interest rates. The Federal Open Market Committee, the Fed's policy-making arm, started its two-day meeting today, and the markets are keenly awaiting to see what may develop. The post-meeting news conference by Fed Chairman Ben Bernanke on Wednesday - the first regularly scheduled news briefing by a Fed chief in the US central bank's 97-year history - will be closely watched to see how the Fed plans to exit from its ultra-loose policy. [1] The European Central Bank last month raised rates for the first time since July 2008. While some believe this may prompt the Fed to tighten monetary policy sooner, financial markets are still in a "carry trade" environment. The carry trade involves financing at low rates and investing the proceeds in higher-yielding assets. Paolo Palazzi-Xirinachs, Chicago

 

Notes: Source: [1] Reuters (26 April 2011), [2] Bloomberg UK (26 April 2011), [3] Reuters UK (26 April 2011), [4] Sydney Morning Herald (26 April 2011), [5] Wall Street Journal (26 April 2011). Chart data supplied by Bloomberg.