EUR/USD Performance Chart as at 3:30 a.m. Singapore time, 29/04/11

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HISTORICAL DETAILS 

% Change

1 Wk 1.82%

1 Month 4.99%

3 Months 8.86%

6 Months 6.37%

1 Year 12.46%

 

52 WEEK

High 1.4882

Low 1.1877

 

BLOOMBERG MEDIAN FORECASTS

Q2 2011 1.43

Q3 2011 1.39

Q4 2011 1.38

Q1 2011 1.35

 

DAILY DETAIL

The dollar extended losses vs. the euro today, as the continental currency looks increasingly like it is headed north of the all important psychological $1.50 barrier, spurred on by the Federal Reserve's intention to keep interest rates near zero, while softer-than-expected US jobs and growth data underscored the bearish sentiment. Ultra-loose US monetary policy has been a bane for the dollar and a boon for the euro, which is up nearly 11% against the greenback so far this year. The Federal Reserve said on Wednesday it would complete its $600 billion bond-buying program in June, but Fed Chairman Ben Bernanke signaled no rush to tighten monetary policy with the jobs market still in a "very, very deep hole.” [1] There is bound to be a long gap between ending the Fed's commitment to low rates for an extended period and the eventual normalization of US rates, which would improve the dollar's yield advantage against the rest of the world. Data on Thursday showed the US economy grew less than expected in the first quarter and initial weekly jobless claims rose more than forecast. Paolo Palazzi-Xirinachs, Chicago

 

Notes: Sources: [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.