EUR/USD Performance Chart as at 3:30 a.m. Singapore time, 28/04/11

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HISTORICAL DETAILS 

% Change

1 Wk 0.83%

1 Month 3.95%

3 Months 6.63%

6 Months 6.35%

1 Year 9.42%

 

 

52 WEEK

High 1.4714

Low 1.1877

 

BLOOMBERG MEDIAN FORECASTS

Q2 2011 1.42

Q3 2011 1.39

Q4 2011 1.37

Q1 2011 1.35

 

DAILY DETAIL

The US dollar fell against the euro today after the Federal Reserve said it will end its bond-buying program in June as planned and appeared in no rush to tighten monetary policy further. The euro was up 0.4% at $1.4695 after reaching $1.4713, its highest since December 2009. The euro was at $1.4665 prior to the Fed announcement. Market participants say a sustained break on the euro could open the way to the psychologically key $1.50 mark. [1] The spotlight now shifts to the 2:15 p.m. news conference by Chairman Ben Bernanke, the first regularly scheduled news briefing by a Fed chief in the central bank's 97-year history. The Fed's super-loose interest rate policy is a source of severe trouble for the dollar, which has lost 10% of its value against a broad measure of major currencies since its January peak. Low rates have combined with slow growth and an alarming budget shortfall, which led Standard & Poor's to change to "negative" from "stable" its outlook on the United States' prized AAA rating last week. Paolo Palazzi-Xirinachs, Chicago

 

Notes: Source: [1] & [2] Reuters (27 April 2011), [3] Sydney Morning Herald (27 April 2011), [4] Wall Street Journal (27 April 2011). Chart data supplied by Bloomberg.